Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The least-squares regression equation is y = 787.1x + 12,501 where y is the median income and x is the percentage of 25 years

image text in transcribed

The least-squares regression equation is y = 787.1x + 12,501 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 0.7332. Complete parts (a) through (d). Dound to th Median Income (a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. 55000- 20000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forecasting Time Series And Regression

Authors: Bruce L. Bowerman, Richard O'Connell, Anne Koehler

4th Edition

0534409776, 9780534409777

More Books

Students also viewed these Mathematics questions

Question

1. Walk to the child, look into his or her eyes.

Answered: 1 week ago

Question

What are the differences between these stories?

Answered: 1 week ago