We appreciate your visit to You ran a regression of income y on years of education x Income is measured in thousands of US Because of heteroscedasticity you transformed your. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
D. $2940
Step-by-step explanation:
The given regression model is
Income=2.4+0.06 x education.
The predicted income of person with 9 years of education can be computed by replacing education year with 9 in the regression model
Income=2.4+0.06*9
Income=2.4+0.54
Income=2.94
As the income is measured in thousands of US $ so,
Income=2.94*1000 $
Income=$2940.
Thus, the predicted income of person with 9 years of education is $2940.
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