6.2 The following table shows economic development measured in per capita income PCINC. Table 4. Column A [year]: 1870; 1880; 1890; 1900; 1910; 1920; 1930; 1940; 1950; 1960. Column B [PCINC]: 340; 499; 592; 757; 927; 1050; 1170; 1364; 1836; 2132 a) Draw a scatterplot of the data. b) Use regression to find the line of best fit and the correlation coefficient. c) Interpret the significance of the correlation coefficient. d) Is there a relationship between the variables? e) What is the slope of the regression equation? What does it mean? f) Use the line of best fit to estimate PCINC for 1900, for 2000. g) Determine if there are any outliers.
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Each data point will represent a year and its corresponding per capita income. b) Show more…
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