Use the data and your results from question 59 to estimate the earnings of someone with 15 years of education Also compute r and R 2 Question 59 The Department of Education at a university is interested in the relationship between the number of years of education and a persons salary It collects th...

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Use the data and your results from question 59 to estimate the earnings of someone with 15

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Use the data and your results from question 59 to estimate the earnings of someone with 15 years of education. Also compute r and R².

Question 59

The Department of Education at a university is interested in the relationship between the number of years of education and a person’s salary. It collects the following information: image text in transcribed

(a) Draw a scatter diagram for these data.

(b) Calculate the regression parameters α and β.

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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Question Posted: Mar 03, 2024 07:01 AM

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Use the data and your results from question 59 to estimate the earnings of someone with 15

Question:

Person 1 2 2345 3 4 5 Education (years) 8 12 13 14 16 Salary $21,000 24,000 19,500 40,000 72,000

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Statistics For Business And Financial Economics

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