Using the Regression Formula with a Slope = 2,000 and an Intercept

question 8

Multiple Choice

Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 35 years of education?

• A)$40,000
• B)$42,000
• C)$45,000
• D)$85,000

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Definitions:

Psychological Factor

Represents the mental and emotional influences that affect consumer behaviors and decision-making processes.

Functional Need

A consumer's requirement for a specific feature or function that a product or service must fulfill to be considered useful.

Lifestyle

The way in which a person or group lives, including patterns of social relations, consumption, entertainment, and dress.

Cognitive Component

A component of attitude that reflects what a person believes to be true.