in a regression equation predicting income (measured in $1000s) with education(m
ID: 2922120 • Letter: I
Question
in a regression equation predicting income (measured in $1000s) with education(measured in years), the intercept (a) equals 1.5 and the regression coefficient(b) equals 4.which of the below is the correct interpretation of the regression coefficient (b)? in a regression equation predicting income (measured in $1000s) with education(measured in years), the intercept (a) equals 1.5 and the regression coefficient(b) equals 4.which of the below is the correct interpretation of the regression coefficient (b)? in a regression equation predicting income (measured in $1000s) with education(measured in years), the intercept (a) equals 1.5 and the regression coefficient(b) equals 4.which of the below is the correct interpretation of the regression coefficient (b)?Explanation / Answer
Given that intercept = 1.5, regression coefficient = 4
then we get the regression equation Y=1.5 + 4 x
in a regression equation predicting income (measured in $1000s) with education(measured in years) then
Answer : For every additional year of education, income increases $4000.
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