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The least-squares regression equation is NADE 709.0x+15,033 where y is the median income and x is the percentage of 25 years and older with
The least-squares regression equation is NADE 709.0x+15,033 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7481. Complete parts (a) through (d). Median Income 55000 20000- 15 20 25 30 35 40 45 50 55 60 (a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree. $ 32758 (Round to the nearest dollar as needed.) (b) In a particular region, 26.4 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $30,490. Is this income higher than what you would expect? Why? This is than expected because the expected income is $ (Round to the nearest dollar as needed.)
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