Question
heleast-squares regression equation is y=649.4x+16,623 where y is the median income and x is the percentage of 25 years and older with at least abachelor's
heleast-squares regression equation is
y=649.4x+16,623 where y is the median income and x is the percentage of 25 years and older with at least abachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.6998. Complete parts(a) through(d).
15
20
25
30
35
40
45
50
55
60
20000
55000
Bachelor's%
MedianIncome
A scatter diagram has a horizontal axis labeled Bachelor's % from 15 to 60 in increments of 5 and a vertical axis labeled Median Income from 20000 to 55000 in increments of 5000. Points are scattered around a line that rises from left to right and has a slope of about 600.
(a) Predict the median income of a region in which 20% of adults 25 years and older have at least abachelor's degree.
$
13005
13005 (Round to the nearest dollar asneeded.)
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