Homework SourseA study was conducted into the relationship between the age
A study was conducted into the relationship between the age in years of a person and their average weekly after tax income.
You have been supplied with the following information regarding a regression model that had been developed as part of the study.
A particular observed value from the data is:
x = 39, y = 590.68
Calculate the residual of this observed value of the response variable. Give your answer to 2 decimal places.
residual =
| Regression analysis | |
|---|---|
| sample intercept | 507.70 |
| sample slope | 2.14 |
Solution
A study was conducted into the relationship between the age in years of a person and their average weekly after tax income. You have been supplied with the following information regarding a regression model that had been developed as part of the study.
Regression analysis
sample intercept
507.70
sample slope
2.14
A particular observed value from the data is:
x = 39, y = 590.68
Calculate the residual of this observed value of the response variable. Give your answer to 2 decimal places.
regression line y = 507.70 + 2.14*x
when x=39,
y = 507.70 + 2.14*39 = 591.16
residual = observed
| Regression analysis | |
| sample intercept | 507.70 |
| sample slope | 2.14 |
