Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 25 years of education?
A)$40,000
B)$42,000
C)$45,000
D)$65,000

Question

Quizplus · Accepted Answer

Since the slope is 2,000, for every additional year of education, the predicted income increases by $2,000. Therefore, someone with 25 years of education would have a predicted income of 2,000(25) + 15,000 = $65,000.

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