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  3. the following example describes the expenditure (i

The following example describes the expenditure (in dollars) on recreation per month by employees at a...

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General Management

The following example describes the expenditure (in dollars) onrecreation per month by employees at a certain company, and theircorresponding monthly incomes: Using R cloud and providethe codes

Expenditure($):2400,2650,2350,4950,3100,2500,5106,3100,2900,1750

Income($):4120,50100,52000,66000,44500,37700,73500,37500,56700,35600

Using the equation for the linear regression that youcalculated, estimate the monthly income of an employee at thiscompany who spends 5000 dollars per month on recreation. What isthe accuracy of your prediction?

Answer & Explanation Solved by verified expert
3.8 Ratings (438 Votes)
Important formula Error Actual forecast Absolute error absolute value of error Square of errorerror2 Mean Absolute Deviation average of absolute error Root Mean square errorsquare root of average of square of error Intercept and slope are calculated using Excel formula 1 B C D E F G H 2 Expenditure Income Forecast Intercept Error Absolute error Square of error 3 2400 4120 3755887 854287 3343887 3343887    See Answer
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