question archive Use the following convention table for R-square
Use the following convention table for R-square
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Use the following convention table for R-square.
| From 0.0 to 0.2 | Poor |
| From 0.2 to 0.4 | Decent |
| From 0.4 to 0.6 | Good |
| From 0.6 to 0.85 | Very Good |
| From 0.85 to 1.0 | Excellent |
Upload the Wages data (This can be found on www.limes.one/Content/DataFiles/Wages.txt).Create a scattered plot chart with X representing numbers of work experience years and Y representing the wages (dollars per hour); plot the line and compute the R-square.
If a person has 20 years of working experience, according to the chart and the analysis, what is his predicted wages (dollars per hour)?
a. About $4.51 in wages
b. About $14.4 in wages
c. About $3.37 in wages
d. About $20.67 in wages
e. None of the above
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Answer:
Regression equation is given by: y = 0.0361x + 8.38;
Y is the wage (Dollars per hour) and X is numbers of work experience years
Coefficient of determination, R² = 0.0076
When x= 20
yhat = =0.0361*20+8.38 = 9.102
PFA
e. None of the above
