Question

Given the regression line y=-1.32+2.342xy = − 1.32 + 2.342 x , where the independent variable is number of dollars ($) invested and the dependent variable is the time (hours) spend working. a) What is the y-intercept of the regression line and interpret what it means? b) If you spent $20 in an investment, how many hours did you work?

Answer 1

a) y- intercept = -1.32

Interpretation : If the number of dollars invested is $0, then we expect the number of hours spend in working is -1.32 hours

b) if number of dollars invested = $20

No. of hours spend = -1.32 + 2.342*20

Number of hours spend = 45.52 hrs