Consider the following to answer the question(s) below:
To determine whether the cash bonuses paid by Johnson Financial Group are related to annual pay, data were gathered for 10 account executives who received such bonuses in 2007. The data, scatterplot and summary statistics are shown below.
Note: In answers to problems 2, 4, and 5 we will be using regression equation coefficients received by computer software. If we apply textbook formulae, the value of intercept will be a little bit different.
-Find the value of R2. Interpret its meaning in this context.

Question

Consider the following to answer the question(s) below:
To determine whether the cash bonuses paid by Johnson Financial Group are related to annual pay, data were gathered for 10 account executives who received such bonuses in 2007. The data, scatterplot and summary statistics are shown below.
   Note: In answers to problems 2, 4, and 5 we will be using regression equation coefficients received by computer software. If we apply textbook formulae, the value of intercept will be a little bit different.
-Find the value of R2. Interpret its meaning in this context.

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The Answer of Consider the following to answer the question(s) below:
To determine whether the cash bonuses paid by Johnson Financial Group are related to annual pay, data were gathered for 10 account executives who received such bonuses in 2007. The data, scatterplot and summary statistics are shown below.
   Note: In answers to problems 2, 4, and 5 we will be using regression equation coefficients received by computer software. If we apply textbook formulae, the value of intercept will be a little bit different.
-Find the value of R2. Interpret its meaning in this context.

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