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Show transcribed image text A social scientist would like to analyze the relationship between educational attainment and salary. He collects the follwing sample data, where Education refers to years of higher education and individual's annual salary (in $1,000s): Education 3 4 6 2 5 4 8 0 Salary 40 37 80 36 69 46 106 46 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = A + Education + ε. (Round intermediate calculations to at least 4 decimal places. Enter your answers in thousands rounded to 2 decimal places.) salary = Education b. Interpret the coefficient for Education. OAs Education increases by 1 unit, an individual's annual salary is predicted to increase by $9,500. O As Education inceases by 1 unit, an individual's annual salary is predicted to decrease by $9,500. OAs Education increases by 1 unit, an individual's annual salary is predicted to decrease by $8,500. O As Education increases by 1 unit, an individual's annual salary is predicted to increase by $8,500. c. What is the predicted salary for an individual who completed 7 years of higher education? (Round intermediate coefficient values to 2 decimal places and final answer, in dollars, to the nearest whole number.) Salary
A social scientist would like to analyze the relationship between educational attainment and salary. He collects the follwing sample data, where Education refers to years of higher education and individual's annual salary (in $1,000s): Education 3 4 6 2 5 4 8 0 Salary 40 37 80 36 69 46 106 46 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = A + Education + ε. (Round intermediate calculations to at least 4 decimal places. Enter your answers in thousands rounded to 2 decimal places.) salary = Education b. Interpret the coefficient for Education. OAs Education increases by 1 unit, an individual's annual salary is predicted to increase by $9,500. O As Education inceases by 1 unit, an individual's annual salary is predicted to decrease by $9,500. OAs Education increases by 1 unit, an individual's annual salary is predicted to decrease by $8,500. O As Education increases by 1 unit, an individual's annual salary is predicted to increase by $8,500. c. What is the predicted salary for an individual who completed 7 years of higher education? (Round intermediate coefficient values to 2 decimal places and final answer, in dollars, to the nearest whole number.) Salary
