Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 14 - Section 14.3 - Assess Your Understanding - Applying the Concepts - Page 723: 28d

Answer

$ŷ =−15.2+1.545x_1+5.57x_2$ The coefficient for $x_1$: if the work experience increases by 1 year and the level of the education remains constant, then the annual income will increase by 1545 dollars, on average. The coefficient for $x_2$: if the level of the education increases by 1 year and the work experience remains constant, then the annual income will increase by 5570 dollars, on average.

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