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What are the predicted wages

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A team of researchers has estimated the following regression showing the relationship between mistakes per hour and hourly wages:

wage ˆ i = 14 - 2 ∗ mistakesi

(a) What are the predicted wages for 1,2,3, and 4 mistakes, respectively.

(b) Suppose the true wages for 1,2,3, and 4 mistakes are 13,9,7, and 7 respectively. What are the residuals?

Reference no: EM132445971

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