One general belief held by observers of the business world is that taller men earn more money than shorter men. In a study reported in the Wall Street Journal, 30 MBA graduates, all about 30 years old, were surveyed and asked to report their annual incomes and their heights. These responses are recorded in the file called "WSJ Earnings Study.xlxs" in the resources folder for GFE 10.

a)Identify the dependent and independent variable of the regression equation that can be estimated with this data.

b)Use Excel to estimate the regression coefficients.

c)Do these data provide sufficient statistical evidence to infer at the 5% significance level that taller MBAs earn more money than shorter ones?

d)Provide a measure of the strength of the linear relationship between income and height.

e)Do you think that this model is good enough to be used to estimate and predict income on the basis of height? Please explain your answer.

f)If you answered 'yes' to the question above, predict with 95% confidence the income of a man 175 cm tall with an MBA.