Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 35 years of education?
A)$40,000
B)$42,000
C)$45,000
D)$85,000

Question

Quizplus · Accepted Answer

The regression formula is y = mx + b, where y is the predicted income, x is the number of years of education, m is the slope, and b is the intercept. Plugging in the values given, we get y = 2,000(35) + 15,000 = $85,000. Therefore, the predicted income for someone with 35 years of education is $85,000, which is choice D.

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