Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 5 years of education?
A)$25,000
B)$42,000
C)$45,000
D)$47,000

Question

Quizplus · Accepted Answer

The predicted income is calculated using the regression formula: income = intercept + (slope * years of education). Plugging in the given values: income = 15,000 + (2,000 * 5) = 15,000 + 10,000 = $25,000.

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