Questions: The equation for the regression line relating the salary and the year first employed is given above the figure. a. Report the slope and explain what it means. b. Either interpret the y-intercept of 4,255,424 or explain why it is not appropriate to interpret the y-intercept. a. Choose the correct answer below. A. A salary of 2099 would be the salary for a person who started in the year 2010. B. The average salary is 2099 less for each year later that the person was hired or an average of 2099 more for each year earlier. C. The average salary is 2099 more for each year later that the person was hired or an average of 2099 less for each year earlier. D. A salary of 2099 would be the salary for a person who started in the year 0. b. Choose the correct answer below. A. The y-intercept of 4,255,424 would be the salary for a person who started prior to 1985. B. The y-intercept of 4,255,424 would be the salary for a person who started after 2000. C. The y-intercept of 4,255,424 would be the salary for a person who started in the year 0, which is not appropriate to interpret.

The equation for the regression line relating the salary and the year first employed is given above the figure. a. Report the slope and explain what it means. b. Either interpret the y-intercept of 4,255,424 or explain why it is not appropriate to interpret the y-intercept. a. Choose the correct answer below. A. A salary of 2099 would be the salary for a person who started in the year 2010. B. The average salary is 2099 less for each year later that the person was hired or an average of 2099 more for each year earlier. C. The average salary is 2099 more for each year later that the person was hired or an average of 2099 less for each year earlier. D. A salary of 2099 would be the salary for a person who started in the year 0. b. Choose the correct answer below. A. The y-intercept of 4,255,424 would be the salary for a person who started prior to 1985. B. The y-intercept of 4,255,424 would be the salary for a person who started after 2000. C. The y-intercept of 4,255,424 would be the salary for a person who started in the year 0, which is not appropriate to interpret.
Transcript text: The equation for the regression line relating the salary and the year first employed is given above the figure. a. Report the slope and explain what it means. b. Either interpret the $y$-intercept of $4,255,424$ or explain why it is not appropriate to interpret the $y$-intercept. a. Choose the correct answer below. A. A salary of $\$ 2099$ would be the salary for a person who started in the year 2010. B. The average salary is $\$ 2099$ less for each year later that the person was hired or an average of $\$ 2099$ more for each year earlier. C. The average salary is $\$ 2099$ more for each year later that the person was hired or an average of $\$ 2099$ less for each year earlier. D. A salary of $\$ 2099$ would be the salary for a person who started in the year 0 . b. Choose the correct answer below. A. The $y$-intercept of $\$ 4,255,424$ would be the salary for a person who started prior to 1985 . B. The $y$-intercept of $\$ 4,255,424$ would be the salary for a person who started after 2000. C. The $y$-intercept of $\$ 4,255,424$ would be the salary for a person who started in the year 0 , which is not appropriate to interpret.
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Solution

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Solution Steps

Step 1: Identify the given regression equation

The given regression equation is: \[ \text{Predicted Salary} = 4255424 - 2099 \times \text{StartYear} \]

Step 2: Report the slope and explain its meaning

The slope of the regression line is \(-2099\). This means that for each additional year later that a person was hired, the average salary decreases by $2099.

Step 3: Interpret the y-intercept or explain why it is not appropriate to interpret

The y-intercept of the regression line is \(4255424\). This represents the predicted salary for a person who started in the year 0. However, since the year 0 is not within the range of the data (which starts from 1985), it is not appropriate to interpret the y-intercept in this context.

Final Answer

  • Slope: The slope is \(-2099\), meaning the average salary decreases by $2099 for each year later that a person was hired.
  • Y-intercept: The y-intercept is \(4255424\), but it is not appropriate to interpret it in this context because the year 0 is not within the range of the data.
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