Use the multiple regression equation to predict a persons 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?
y = 19,230 + 4452A + 3580B
There is no need to use statistical arguments to answer this question. Just plug in 7 for A and 3 for B and perform the calculation indicated by the equation.
The equation itself may have statistical origins. It would not be a good idea to use such a formula to make job offers to everyone who applies.
what is the operations of 7+3*5
To use the multiple regression equation to predict a person's salary, you need to substitute the given values for variables A and B into the equation and then calculate the result.
In this case, the given values are A = 7 (number of years of college) and B = 3 (number of years of experience). Let's substitute these values into the equation:
y = 19,230 + 4452(7) + 3580(3)
Now, perform the calculations:
y = 19,230 + 31,164 + 10,740
y = 61,134
Therefore, the predicted salary for a person with 7 years of college and 3 years of experience would be $61,134.