Question
An economist is studying the job market in Denver area neighborhoods. Let x represent the total number of jobs in a given neighborhood, and let
An economist is studying the job market in Denver area neighborhoods. Let x represent the total number of jobs in a given neighborhood, and let y represent the number of entry-level jobs in the same neighborhood. A sample of six Denver neighborhoods gave the following information (units in hundreds of jobs).
x 17 34 49 28 50 25
y 2 3 5 5 9 3
Given x = 203, y = 27, x2 = 7755, y2 = 153, xy = 1046, and r 0.793.
(a) Verify the given sums x, y, x2, y2, xy, and the value of the sample correlation coefficient r. (Round your value for r to three decimal places.)
x =
y =
x2 =
y2 =
xy =
r =
(b) Find x, and y. Then find the equation of the least-squares line y hat = a + bx. (Round your answers for x and y to two decimal places. Round your answers for a and b to three decimal places.)
x =
y =
y hat =_______+______x
(c) Find the value of the coefficient of determination r2. What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares line? What percentage is unexplained? (Round your answer for r2 to three decimal places. Round your answers for the percentages to one decimal place.)
r2 =_______
explained_______%
unexplained_______ %
(d) For a neighborhood with x = 37 hundred jobs, how many are predicted to be entry level jobs? (Round your answer to two decimal places.)
___________hundred jobs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started