The Regression Equation Salary = 35,000 + 3500 YearsExperience

question 98

Multiple Choice

The regression equation Salary = 35,000 + 3500 YearsExperience + 1200 YearsCollege describes employee salaries at Streeling Research Labs. The standard error is 2500. Doris has 20 years' experience and 4 years of college. Her salary is $113,000. What is Doris's standardized residual?

• A)+1.28
• B)-0.24
• C)-1.28
• D)+3.20

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Definitions:

Overtime Rate

The rate of pay for hours worked in excess of the standard working hours, typically higher than the normal rate.

Exports

Goods, services, or commodities sent from one country to another for the purpose of trade or sale.

June

The sixth month of the year in the Gregorian calendar.

Disposable Income

The amount of money an individual or household has to spend or save after income taxes have been deducted.