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XYZ company plans to advertise some vacancies. The Manager is asked to suggest the monthly salary…
XYZ company plans to advertise some vacancies. The Manager is asked to suggest the monthly salary for these vacancies based on the years of experience. To do so, the Manager studies the years of service and the monthly salary drawn by the existing employees in the company.
Following is the data that the Manager refers to:
| Years of service ($X$) | 11 | 7 | 9 | 5 | 8 | 6 | 10 |
|---|---|---|---|---|---|---|---|
| Monthly salary (in ₹ 1000) ($Y$) | 10 | 8 | 6 | 5 | 9 | 7 | 11 |
(a)
Find the regression equation of monthly salary on the years of service.
(b)
If a person with 13 years of experience applies for a job in this company, what monthly salary will be suggested by the Manager?
Answer
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From ISC 2024 Mathematics Paper 1, question 21(i).