Can the percentage of the workforce who are engineers in each U.S. state be predicted by the
Question:
Can the percentage of the workforce who are engineers
in each U.S. state be predicted by the amount of money spent
in on higher education (as a percent of gross domestic product),
on venture capital (dollars per $1000 of gross domestic
product) for high-tech business ideas, and state funding (in
dollars per student) for major research universities? Data for
all 50 states and a software package revealed the following results:
(a) Write the equation predicting the percent of engineers in
the workforce.
(b) For a state that has $1 per $1000 in venture capital, spends
$10,000 per student on funding for major research universities,
and spends 0.5% of its GDP on higher education, what
percent of engineers do you expect to see in the workforce?
(c) If the state in part (b) actually had 1.5% engineers in the
workforce, what would the residual be?
Step by Step Answer:
Applied Statistics And Probability For Engineers
ISBN: 9781118539712
6th Edition
Authors: Douglas C. Montgomery, George C. Runger