Question: A researcher is interested in the relationship between income earned and federal tax paid. She regresses the amount of federal tax paid last year (Y)

A researcher is interested in the relationship between income earned and federal tax paid. She regresses the amount of federal tax paid last year (Y) on the gross income earned (X) for a large sample of individuals and obtains the following results:
Ŷ= 1038 + .23X
r2 = .09 Sy|x= 4280 sb = .51 n = 4,365
Analyze these results for the researcher.

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