Regression

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Title: Regression

Essay Details:

Subject: Business

Author:

Date: January 14, 2014

Level: University

Grade: A

Length: 3 / 655

Essay text:

The linear graph seen here demonstrates the statistical relationship between years of experience and wages earned for the wage data set that we downloaded in RES 341. This data can be used in conjunction with any type of trend model that would suit the users needs to correlate forecasts of income expected for years of experience. The trend data can be used by both the employer and employee. This is the kind of data one would expect to be asked at an interview; the “loaded question” that most people do not know how to calculate. For example, the interview is going fine, then the potential employer asks, What salary would you expect if you were to get the job in question? Most individuals would opt for a number they can tolerate to live by rather than what is actually statistically correct...

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