The monthly salary for an employee, Y, is linearly related to the employee's years of experience, X. The mean monthly sa

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answerhappygod
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The monthly salary for an employee, Y, is linearly related to the employee's years of experience, X. The mean monthly sa

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The monthly salary for an employee, Y, is linearly related to
the employee's years of experience, X. The mean monthly salary is
$5000, with a standard deviation of $800; the mean experience is 5
years with a standard deviation of 2 years; the correlation
coefficient is 7/8.
a) What is the predicted monthly salary for an employee with no
experience?
b) What effect does each year of experience have on monthly
salary? (increase/decrease by what amount)
c) Approximately what percentage of variability in monthly
income cannot be explained by variability in experience?
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