A social scientist would like to analyze the relationship between educational attainment (in years of higher education) and annual salary (in $1,000s). He collects data on 20 individuals. A portion of the data is as follows: Salary Education 40 3 53 4 ⋮ ⋮ 38 0 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = β0 + β1Education + ε. (Round answers to 2 decimal places.) Salaryˆ= + Education b. Interpret the coefficient for Education. multiple choice As Education increases by 1 year, an individual’s annual salary is predicted to decrease by $8,590. As Education increases by 1 year, an individual’s annual salary is predicted to decrease by $10,850. As Education increases by 1 year, an individual’s annual salary is predicted to increase by $8,590. As Education increases by 1 year, an individual’s annual salary is predicted to increase by $10,850. c. What is the predicted salary for an individual who completed 7 years of higher education? (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Salaryˆ $