Use the multiple regression equation to predict a person's salary. Assume that the variable A is the number of years of college. Assume that the variable B is the number of years of experience. Suppose the person has 7 years of college and 3 years of experience. What should their salary be?

To predict a person's salary using a multiple regression equation, we need the regression coefficients for the variables A (number of years of college) and B (number of years of experience).

Assuming you have the regression equation and the corresponding coefficients already available, you can plug in the values of A and B to get the predicted salary.

Let's say the regression equation is:

Salary = intercept + coefficient_A * A + coefficient_B * B

Now, suppose the regression coefficients are:
intercept = $40,000
coefficient_A = $5,000 (per year of college)
coefficient_B = $2,000 (per year of experience)

Given that the person has 7 years of college (A = 7) and 3 years of experience (B = 3), we can substitute these values into the equation:

Salary = $40,000 + $5,000 * 7 + $2,000 * 3

Simplifying the equation, we have:

Salary = $40,000 + $35,000 + $6,000

Therefore, the predicted salary for someone with 7 years of college and 3 years of experience would be $81,000.