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2 cards from this section. Quick, good the night before a test.
What does the slope represent in a linear regression model?
Think about how changes in experience affect salary.
What is the intercept in a regression equation?
Consider salary when experience is zero.
What does a slope of 6250 represent in the context of salary prediction?
Think about how salary varies with experience.
True or False: The intercept represents the change in salary with each year of experience.
Recall the definition of intercept.
A model indicates that the slope is 5000 and the intercept is 23000. Predict salaries for a person with 0, 3, and 10 years of experience. Discuss your findings.
Use the salary equation for the calculations.
If the slope were to change from 5000 to 7000, how would that affect the salary prediction for someone with 5 years of experience?
Calculate the new predicted salary using the changed slope.
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