Interpretation based on coefficient of determination

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A career counselor wishes to estimate, based on the following sample data, the mean increase in the annual salary of people (in thousands of dollars) per additional year of education pursued. Years, x 12 13 14 15 16 17 Salary, y 25 31 43 52 58 60 Which of the following is the correct interpretation based on the coefficient of determination in the previous problem? a. 2.12% of the variability in the annual salary is explained by the number of years of education pursued. b. 96.2% of the variability in the annual salary is explained by the number of years of education pursued. c. 97.88% of the variability in the annual salary is explained by the number of years of education pursued. d. 98.08% of the variability in the annual salary is explained by the number of years of education pursued. e. 3.79% of the variability in the annual salary is explained by the number of years of education pursued.

Reference no: EM131346424

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