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The scatter plot and the Excel output of a regression of income on age analyze data on the age and income of 5712 men
The scatter plot and the Excel output of a regression of income on age analyze data on the age and income of 5712 men between the ages of 25 and 65. A scatter plot of the data on age and income. The x axis shows age in 5 year increments: 25, 30, 35, 40, 45, 45, 50, 55, 60, 65. The y axis shows income in dollars in 1000000 dollar increments: 100000, 200000, 300000, 400000. Most of the points are clustered around an increasing straight line and correspond to the income less than 100000 dollars. A smaller subset of points scatter around a horizontal straight line trend at an income level slightly higher than 200000 dollars. These scattered points at the higher income range deviate rather evenly above and below the straight lilne trend above 200000 dollars. The Excel regression analysis report shows three tables. Column header of the first table is Regression Statistics. Row headers are Multiple R, R Square, Adjusted R square, Standard Error, and Observations. The values of the table are as follows. Row Multiple R, 0.187747819. Row R Square, 0.035249244. Row Adjusted R square, 0.035080285. Row Standard Error, 47620.29225. Row Observations, 5712. Then goes Analysis of variance table. Column headers are df, SS, MS, F, and Significance F. Row headers are Regression, Residual, and Total. The values of the table are as follows. Column df, row Regression, 1. Column df, row Residual, 5710. Column df, row Total, 5711. Column SS, row Regression, 4.73102E+11. Column SS, row Residual, 1.29485E+13. Column SS, row Total, 1.34216E+13. Column MS, row Regression, 5E+11. Column MS, row Residual, 2E+09. Column F, row Regression, 208.62713. Column Significance F, row Regression, 1.79127E-46. Column headers of the last table are Coefficients, Standard Error, t Stat, P value, Lower 95 percent, Upper 95 percent. Row headers are Intercept and Age. Row Intercept, column Coefficients, 24874.3745. Row Intercept, column Standard Error, 2637.419757. Row Intercept, column t Stat, 9.4313. Row Intercept, column P value, 5.749E-21. Row Intercept, column Lower 95 percent, 19704.03079. Row Intercept, column Upper 95 percent, 30044.7182. Row Age, column Coefficients, 892.1135232. Row Age, column Standard Error, 61.7639029. Row Age, column t Stat, 14.444. Row Age, column P value, 1.791E-46. Row Age, column Lower 95 percent, 771.0328323. Row Age, column Upper 95 percent, 1013.194214. The Minitab output predicts the income for ages 30, 40, 50, and 60 years. The predicted income is given by the "Fitaentry/indo Predicted Values Go to Settings to act
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