Question
The least-squares regression equation is y=768.4x+13,292 where y is the median income and x is the percentage of 25 years and older with at least
The least-squares regression equation is y=768.4x+13,292 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 0.7773. Complete parts a through d.a) predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. Round to the nearest dollar as needed.b) in a particular region, 26.7 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is 30,381$. Is this income higher than what you would expect? Why? Fill in the blank belowThis is higher or lower than expected because the expected income is___$C) interpret the slope. a. For every dollar increase in median income, the percent of adults having at least a bachelors degree is __% on averageb. For a median income of 0$, the percent of adults with a bachelors degree is __%c. For every percent increase in adults having at least a bachelor's degree, the median income increases by __$ on average d. For 0% of adults having a bachelors degree, the median income is predicted to be __$D) explain why it does not make sense to interpret the y-intercept. Choose the correct answer belowa. It does not make sense to interpret the y-intercept because an x-value of 0 is outside the scope of the modelb. It does not make sense to interpret the y-intercept because the x-value of 0 does not make sense c. It does not make sense to interpret the y-intercept because the y-value of 0 does not make sensed. It does not make sense to interpret the y-intercept because a y-value of 0 is outside the scope of the model
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