Answered step by step
Verified Expert Solution
Question
1 Approved Answer
c. Use regression to find the line of best fit and the correlation coefficient. Round your answers to two decimal places. y r = Number
c. Use regression to find the line of best fit and the correlation coefficient. Round your answers to two decimal places. y r = Number d. Interpret the significance of the correlation coefficient. At df = Number the critical value is Number The r-value Click for List significant because it is Click for List e. Is there a linear relationship between the variables? There Click for List appear to be a linear relationship between the variables. f. Find the coefficient of determination and interpret it. Round your answer to three decimal places. Do not round intermediate calculations. The coefficient of determination is Number which means that Number % of the variation in PCINC is explained by the variation in the years. g. What is the slope of the regression equation? What does it mean? The slope of the regression equation is Number and it means that per capita income Click for List by Number for each year. h. Use the line of best fit to estimate PCINC for 1900, for 1990. Round your answers to the nearest integer (dollar).12.14 The following table shows economic development measured in per capita income PCINC. Year PCINC Year PCINC 1870 340 1920 1050 1880 499 1930 1170 1890 592 1940 1364 1900 757 1950 1836 1910 927 1960 2132 Table 12.7 a. What are the independent and dependent variables? The independent variable is the year and the dependent variable is the per capita income
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