2 Stat Questions (EXCEL)

2 Stat Questions (EXCEL)

Years of Experience Salary

8 $67,000

8 $92,000

16 $135,000

12 $74,000

7 $95,000

4 $40,000

6 $55,000

5 $63,000

13 $142,000

11 $98,000

1.

a. Regression equation

b. Estimate the salary of an individual with 10 years

c. Interpret the regression coefficients.

2.

a. Standard error in the estimate of Y

b. Plot the upper and lower limits of the 95% prediction interval in a scatter plot with the original data and the regression line

c. The upper and lower limits of a 95% prediction interval for an individual with 12 years of experience