Question

A linear model is developed for the relationship between the annual salary of finance professionals and years of experience, and the following is the linear model yˆ=55,000+1,000x . Which is the correct interpretation of this linear model? slope=55,000,y-intercept=1,000 slope=55,y-intercept=1,000 slope=1,000,y-intercept=55 slope=1,000,y-intercept=55,000 Which of the following is the correct sequence of steps needed to create a linear regression model? create scatter plot, calculate correlation coefficient, check for significance, create linear model create linear model, calculate correlation coefficient, check for significance, create scatter plot check for significance, create linear model, calculate correlation coefficient, create scatter plot create scatter plot, check for significance, create linear model, calculate correlation coefficient

          A linear model is developed for the relationship between the annual salary of finance professionals and years of experience, and the following is the linear model  yˆ=55,000+1,000x
 . Which is the correct interpretation of this linear model?
slope=55,000,y-intercept=1,000
 
slope=55,y-intercept=1,000
 
slope=1,000,y-intercept=55
 
slope=1,000,y-intercept=55,000
 
Which of the following is the correct sequence of steps needed to create a linear regression model?
create scatter plot, calculate correlation coefficient, check for significance, create linear model
create linear model, calculate correlation coefficient, check for significance, create scatter plot
check for significance, create linear model, calculate correlation coefficient, create scatter plot
create scatter plot, check for significance, create linear model, calculate correlation coefficient

Added by Lucy Y.

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