How would you interpret the market pay line, HR Management

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How would you interpret the market pay line

Problem

Using the job evaluation points and the updated compensation survey data, you ran a regression analysis to predict salaries thereby integrating the internal pay structure with external market rates. After running the regression in Excel, you found that the market pay line is ??= 24,855.87 + 32.78?? and the R2 = 0.82.

i. How would you interpret the market pay line?
ii. How would you interpret the R2?

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