Question

An association that supports people who research, design, and evaluate the user experience of products and services periodically conducts a salary survey of its members. One of the authors of the report investigated how much having a Ph.D. affects salaries of people in the profession. The author fit a first-order multiple regression model for salary (y, in dollars) as a function of years of experience (x1), Ph.D. status (1 if Ph.D., 0 if not), and manager status (1 if manager, 0 if not). The following prediction equation was obtained: y = 51,600 + 2,541x1 + 17,148x2 + 13,345x3 a. Predict the salary of a member of the association with 14 years of experience, who has a Ph.D., and is a manager. $_____ (Round to the nearest dollar as needed.)

          An association that supports people who research, design, and evaluate the user experience of products and services periodically conducts a salary survey of its members. One of the authors of the report investigated how much having a Ph.D. affects salaries of people in the profession. The author fit a first-order multiple regression model for salary (y, in dollars) as a function of years of experience (x1), Ph.D. status (1 if Ph.D., 0 if not), and manager status (1 if manager, 0 if not). The following prediction equation was obtained:
y = 51,600 + 2,541x1 + 17,148x2 + 13,345x3

a. Predict the salary of a member of the association with 14 years of experience, who has a Ph.D., and is a manager.
$_____ (Round to the nearest dollar as needed.)

Added by Amber L.

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