A team of psychology want to know if monthly income predicts level of happiness they collect information from N equals 200 individuals, recording their monthly income and ask them to write their happiness on a questionnaire
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Adi S.
Breanna O.
Social researchers are interested in the relationship between income and happiness. You survey 500 people whose incomes range from $15,000 to $75,000 and ask them to rank their happiness. Income (x) is in $10,000 units and happiness (y) is on a scale of 1 to 10. You generate the following statistics using the survey data, and they are shown below: y = 0.7138(x) + 0.2043 Correlation coefficient = .8656 Coefficient of Determination = 0.7493 Standard Error of Estimate = 6.503 1. Is income a good indicator of happiness? Explain. (2 points) 2. Tell me three more things about the relationship between income and happiness, using the statistics noted above. (3 points) USE UNITS and explain fully using BOTH variables. If you do not do so you will not receive the points on this question. Using this information tell me three things about the relationship between these two variables.
Lien L.
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