4.3 For the folowing four regression equations, explain what the slope and inter

Question

4.3 For the folowing four regression equations, explain what the slope and intercep mean a. wage = 2.05 + 1·32education, where wage is dollars earned per hour and educa- b. CPA = 1.14 + 0·23hours study, where GPA is measured in points and hours c. sleep-10.33-0.44work, where sleep is hours spent sleeping per night and d. savings 586+ 0.15salary, where savings is dollars saved in the bank and the tion is number of years the person went to school. study is the number of hours spent studying in a week. work is the number of hours worked per day salary is the number of dollars earned in a year.

Explanation / Answer

Well in all four equations as above -

The line in the center is known as a regression line, a straight line that attempts to predict the relationship between two points. This relationship is the same thing as the slope, and you may also hear the terms consistent change or interval. These three words are used interchangeably and mean the same.

Thus, the equations are the extrme situations for Wage, GPA, Sleep & Savings...

Any deviation / further inputs shall have a Linear, upward or downward trend depending upon the inputs placed.

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