SOLUTION: Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model ˆ y=−0.85x+1

Question 1195479: Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model
ˆ
y=−0.85x+157

where x=annual tuition and
y=average mid-career salary of graduates, both in thousands of dollars.
Which quantity is the independent variable?
average mid-career salary of graduates
annual tuition
Correct
According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000?
$
What is the slope of this regression model?

Answer by ikleyn(52777) (Show Source): You can put this solution on YOUR website!
.
Data on tuition and mid-career salary are collected from a number of universities and colleges.
The result of the data collection is the linear regression model
y=−0.85x+157
where x=annual tuition and
y=average mid-career salary of graduates, both in thousands of dollars.
(a) Which quantity is the independent variable?
average mid-career salary of graduates
annual tuition
Correct
(b) According to this model, what is the average salary for a graduate of a college or university
where the annual tuition is $30,000?
$
(c) What is the slope of this regression model?
~~~~~~~~~~~~~~~~~~

    (a)  To answer question (a), read your post. The answer is there.



    (b)  To answer question (b), replace x in the formula by the given number 30000;  then calculate right side.



    (c)  the slope is the value of the coefficient at x in the formula.

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Happy learning ( ! )

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