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Regression equation
y= slope x (x) + intercept (x=0)
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Regression Line Slope Eqautions
Formula for slope
To find out the slope of y you must know the average income and SD of y and x values
example:
- (x) Average education = 12.5 , SD = 3Average
- (y) Income = 30,000, SD = 24,000
- r=.25
= 2,000
to find the value of y when x =0
12.5 (Ave of x) 2000 = 25,000
were going to subtract 25,000 from the average y; to get y when x =0
30,000-25,000 = 5000
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Regression Equation
Predicted Income = x (x-value) + (y when x=0)
- Note:
- to find the value of y when x =0
- Slope Formula x (x average) =z
- y-z = y when x = 0
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Regression Line r.m.s error
regression line also called least squared line, make rms error as small as possible
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