The average monthly Social Security payments (in 2018 dollars) to Old-Age, Survivors, and Disability Insurance (OASDI) recipients
Question:
The average monthly Social Security payments (in 2018 dollars) to Old-Age, Survivors, and Disability Insurance (OASDI) recipients for selected years are given in the following table.
(a) Find an equation for the least squares line, letting x equal the number of years since 1900.
(b) Use your result from part (a) to predict the average OASDI payment in 2025.
(c) Plot the data, along with the least squares line. Do the data points lie in a linear pattern?
(d) Find and interpret the correlation coefficient.
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a Y 13981x 28843 b Y 13981125 28843 Y ...View the full answer
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