Question: Based on the regression output below from Project 1,and with Fortnightly earnings as the dependent variable, select the correct interpretation for the slope coefcient for

 Based on the regression output below from Project 1,and with "Fortnightly

earnings\" as the dependent variable, select the correct interpretation for the slopecoefcient for \"Age\" -_ Standard Error tStat m Lower 95% Upper 95%

Based on the regression output below from Project 1,and with "Fortnightly earnings\" as the dependent variable, select the correct interpretation for the slope coefcient for \"Age\" -_ Standard Error tStat m Lower 95% Upper 95% W -439.948 110.35 -3.987 0.000 -658.032 -221.863 m 46.590 3.789 12.295 0.000 39.101 54.079 27.240 11.850 2.299 0.023 3.821 50.658 Select one: Q a. Given that everything else being equal, when an employee is 46 years old,the salary will be increasing on average by $3,790 0 b. Given that everything else being equal,when the 'Age' of an employee increases by 1 year, the Fortnightly earnings will increase on average by $46.59. c. Given that everything else being equal,an increase of Fortnightly earnings of an employee by $1 on average, means that the person is 46 years old. 0 d. Given that everything else being equal.when the 'Age' of an employee increases by 1 year,the Fortnightly earnings will increase on average by $466.90. Based on the regression statistics below (from Project 1) and with 'Fortnightly earnings as the dependent variable, select the correct statement, Regression Statistics Multiple R 0.3167 R Square 0.1003 Adjusted R Square 0.0942 Standard Error 386.4711 Observations 150 Select one: a. There is a 31.67% chance the model is wrong O b. The average error when using the model to predict "Fortnightly earnings" is 10% O c. The average error when using the model to predict "Fortnightly earnings" is 10% O d. The average error when using the model to predict "Fortnightly earnings" is $386.47

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!