Question: Source Value t Std_Err 1.724 P_value 0.109 1.614 Intercept Exp Fp2 -2.782 20.656 -1.035 0.441 46,819 0.001 0.023 45.000 0.0001 After running an simple linear
Source Value t Std_Err 1.724 P_value 0.109 1.614 Intercept Exp Fp2 -2.782 20.656 -1.035 0.441 46,819 0.001 0.023 45.000 0.0001 After running an simple linear regression between Income and Experience, the researcher suspected there was a nonlinear relationship between the two variables. They modified their model and got the results shown above. (Exp2 is Exp) What is the impact of an extra year of experience (slope) for someone who already has 30 years of experience. (round to the nearest penny) Source Value t Std_Err 1.724 P_value 0.109 1.614 Intercept Exp Fp2 -2.782 20.656 -1.035 0.441 46,819 0.001 0.023 45.000 0.0001 After running an simple linear regression between Income and Experience, the researcher suspected there was a nonlinear relationship between the two variables. They modified their model and got the results shown above. (Exp2 is Exp) What is the impact of an extra year of experience (slope) for someone who already has 30 years of experience. (round to the nearest penny)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
