The following regression model has been computed based on a sample of 70 observations of part-time workers. The regression equation that relates the number of hours worked (x) and the individual weekly income (y in 100 AED) is
ŷ equals 35.4 plus 5.2 x
What does the slope mean in this context?
For every additional hour of work, the weekly income is expected to increase by 520 AED.
For every additional hour of work, the weekly income is expected to increase by 35.4 AED.
For every additional hour of work, the weekly income is expected to increase by 5.2 AED.
For every additional hour of work, the weekly income is expected to increase by 3540 AED.