The headline of an article in the Gainesville Sun (October 17, 2003) stated, “Height can yield a taller paycheck.” It described an analysis of four large studies in the United States and Britain by a University of Florida professor on subjects’ height and salaries. The article reported that for each gender, “an inch is worth about $789 a year in salary. So, a person who is 6 feet tall will earn about $5,523 more a year than a person who is 5 foot 5.”
a. For the interpretation in quotes, identify the response variable and explanatory variable.
b. State the slope of the regression equation, when height is measured in inches and income in dollars.
c. Explain how the value $5,523 relates to the slope.