Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 16 years of education?
A)$40,000
B)$42,000
C)$45,000
D)$47,000

Question

Quizplus · Accepted Answer

The predicted income is calculated using the formula: Income = (Slope * Years of Education) + Intercept. Substituting the given values: Income = (2,000 * 16) + 15,000 = 32,000 + 15,000 = 47,000.

Using the Regression Formula with a Slope = 2,000 and an Intercept