Instruction 13 -Referring to Instruction 13

question 49

Multiple Choice

Instruction 13.2
A lecturer in industrial relations believes that an individual's wage rate at a factory (Y) depends on his performance rating (X₁) and the number of economics courses the employee successfully completed at university (X₂) . The lecturer randomly selects six workers and collects the following information:
$$\begin{array} { | l | l | l | l | } \hline \text { Employee } & Y ( \$ ) & X 1 & X 2 \\\hline 1 & 10 & 3 & 0 \\\hline 2 & 12 & 1 & 5 \\\hline 3 & 15 & 8 & 1 \\\hline 4 & 17 & 5 & 8 \\\hline 5 & 20 & 7 & 12 \\\hline 6 & 25 & 10 & 9 \\\hline\end{array}$$
-Referring to Instruction 13.2,suppose an employee had never taken an economics course and managed to score a 5 on his performance rating.What is his estimated expected wage rate?

• A) $12.20
• B) $25.11
• C) $10.90
• D) $17.23

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Definitions:

Regression Analysis

A statistical technique that analyzes the connection between a dependent variable and one or more independent variables.

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A type of interval estimate from statistical analysis that represents the range within which an unknown population parameter is expected to lie with a certain level of confidence.

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A straight line that best fits the data points in a scatter plot, showing the trend of the relationship between two variables in regression analysis.