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.
-Using the regression equation,
a. Estimate the cash bonus for an executive at Johnson Financial earning $200,000 a year.
b. How confident should you be in this estimate? Explain.

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.
-Using the regression equation,
a. Estimate the cash bonus for an executive at Johnson Financial earning $200,000 a year.
b. How confident should you be in this estimate? Explain.

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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.
-Using the regression equation,
a. Estimate the cash bonus for an executive at Johnson Financial earning $200,000 a year.
b. How confident should you be in this estimate? Explain.

Consider the Following to Answer the Question(s) Below