Question

Suppose we ran a regression analysis for the following single linear regression equation: salary = β0 + β1 (years of experience) + e What is the appropriate way to interpret the estimate for β1? A. The value for β1 tells us the change in the value of the predicted variable, salary-hat, for a 1-unit change in the variable, x. B. The value for β1 tells us the change in the value of the predicted variable, x-hat, for a 1-unit change in the variable, y. C. The value for β1 tells us the value where the estimated line crosses the y-axis. D. The value for β1 tells us the difference between the predicted value of y and the actual value of y. E. The value for β1 tells us what the value of x is in our data set.

          Suppose we ran a regression analysis for the following single linear regression equation:
salary = β0 + β1 (years of experience) + e
What is the appropriate way to interpret the estimate for β1?
A. The value for β1 tells us the change in the value of the predicted variable, salary-hat, for a 1-unit change in the variable, x.
B. The value for β1 tells us the change in the value of the predicted variable, x-hat, for a 1-unit change in the variable, y.
C. The value for β1 tells us the value where the estimated line crosses the y-axis.
D. The value for β1 tells us the difference between the predicted value of y and the actual value of y.
E. The value for β1 tells us what the value of x is in our data set.

Added by Timothy H.

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