Access the data labeled Work Experfence from the text website The data contain information on salary (in $) and work experience (in years) of 100 employees in a marketing firm Estimate a model y 0 1x where y is salary and x is work experience a Explain why you would be concerned about changing variability in this application b Use a residual plot to confirm your economic intuition

Question: Access the data labeled Work_Experfence from the text website. The data contain information on salary (in $) and work experience (in years) of 100 employees

Access the data labeled Work_Experfence from the text website. The data contain information on salary (in $) and work experience (in years) of 100 employees in a marketing firm. Estimate a model y = β0 + β1x + ε where y is salary and x is work experience.

a. Explain why you would be concerned about changing variability in this application.

b. Use a residual plot to confirm your economic intuition.

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