Question

13)A professor of economics wants to study the relationship between income (y in $1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below. Education x: years :16 11 15 8 12 10 13 14 Income y: $1,000s :58 40 55 35 43 41 52 49 Note! ?Px = 99; ?Py = 373; ?Pxy = 4,761; ?Px² = 1,275; ?Py² = 17,849. a) Calculate r, the correlation coecient b) What is the interpretation for the correlation coecient r in part a). Circle you answer a. Education and Income are strong positive correlated. b. Education and Income are intermediate positive correlated. c. Education and Income are weak positive correlated. d. No correlation between Education and Income. c) What is the equation of the regression line for this data? d) If a person studied 11 years what would you predict for her salary?

          13)A professor of economics wants to study the relationship between income (y in $1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below.

Education x: years :16 11 15 8 12 10 13 14
Income y: $1,000s :58 40 55 35 43 41 52 49

Note! ?Px = 99; ?Py = 373; ?Pxy = 4,761; ?Px² = 1,275; ?Py² = 17,849.

a) Calculate r, the correlation coecient
b) What is the interpretation for the correlation coecient r in part a). Circle you answer
a. Education and Income are strong positive correlated.
b. Education and Income are intermediate positive correlated.
c. Education and Income are weak positive correlated.
d. No correlation between Education and Income.
c) What is the equation of the regression line for this data?
d) If a person studied 11 years what would you predict for her salary?

13)A professor of economics wants to study the relationship between income (y in 1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below.

Education x: years :16 11 15 8 12 10 13 14
Income y:1,000s :58 40 55 35 43 41 52 49

Note! ?Px = 99; ?Py = 373; ?Pxy = 4,761; ?Px² = 1,275; ?Py² = 17,849.

a) Calculate r, the correlation coecient
b) What is the interpretation for the correlation coecient r in part a). Circle you answer
a. Education and Income are strong positive correlated.
b. Education and Income are intermediate positive correlated.
c. Education and Income are weak positive correlated.
d. No correlation between Education and Income.
c) What is the equation of the regression line for this data?
d) If a person studied 11 years what would you predict for her salary?

Added by Dwayne T.

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