THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent survey,250 adults were asked about their monthly expenditures (in dollars)on the lottery.In addition,data were collected about the number of years of education they had.A simple regression was run,and the following results were obtained: b₀ = 35.6,b₁ = -2.37,s
= 18.9,and s
= 1.28.
-How would you interpret the slope coefficient b₁?

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent survey,250 adults were asked about their monthly expenditures (in dollars)on the lottery.In addition,data were collected about the number of years of education they had.A simple regression was run,and the following results were obtained: b₀ = 35.6,b₁ = -2.37,s

= 18.9,and s

= 1.28.
-How would you interpret the slope coefficient b₁?

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: In a recent survey,250 adults were asked about their monthly expenditures (in dollars)on the lottery.In addition,data were collected about the number of years of education they had.A simple regression was run,and the following results were obtained: b 0 = 35.6,b 1 = -2.37,s = 18.9,and s = 1.28. -How would you interpret the slope coefficient b₁?