Pena Gross
09/06/2023 · Primary School
Suppose the following estimated regression equation was determined to predict salary based on years of experience. \[ \text { Wstimated Salary }=21,998.92+2545.16(\text { Years of Experience) } \] What is the estimated salary for an employee with 22 years of experience?
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To estimate the salary for an employee with 22 years of experience using the given regression equation, we can substitute the value of years of experience into the equation:
\[
\text{Estimated Salary} = 21,998.92 + 2,545.16 \times (\text{Years of Experience})
\]
Substituting 22 for Years of Experience:
\[
\text{Estimated Salary} = 21,998.92 + 2,545.16 \times 22
\]
Now, calculate \(2,545.16 \times 22\):
\[
2,545.16 \times 22 = 56,000.52
\]
Now, add this to the constant term:
\[
\text{Estimated Salary} = 21,998.92 + 56,000.52 = 77,999.44
\]
Therefore, the estimated salary for an employee with 22 years of experience is **$77,999.44**.
Quick Answer
The estimated salary for an employee with 22 years of experience is $77,999.44.
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