You are provided with information on income and expenditure of domestic workers from a census of...
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You are provided with information on income and expenditure of domestic workers from a census of population and housing. Income (X) 60 80 100 120 140 Expenditure (Y) 50 79 80 110 120 41 50 95 115 140 59 61 88 100 131 40 67 96 119 125 55 75 91 88 133 Using the table above, a) Plot a regression line. Distinguish between the population regression line and sample regression line. [4 Marks) b) Derive the unconditional expenditure. [3 Marks} c) By how much does the regression line overestimate or underestimate expenditure production when income is 140. [3 Marks] d) What kind of scale measures the variables given? Distinguish it from the others. [5 Marks) You are provided with information on income and expenditure of domestic workers from a census of population and housing. Income (X) 60 80 100 120 140 Expenditure (Y) 50 79 80 110 120 41 50 95 115 140 59 61 88 100 131 40 67 96 119 125 55 75 91 88 133 Using the table above, a) Plot a regression line. Distinguish between the population regression line and sample regression line. [4 Marks) b) Derive the unconditional expenditure. [3 Marks} c) By how much does the regression line overestimate or underestimate expenditure production when income is 140. [3 Marks] d) What kind of scale measures the variables given? Distinguish it from the others. [5 Marks)
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Sol There is a linear relationship between income and expenditure The population ... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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