The table below lists the average number of hours worked in a week and the average weekly earnings for U.S. production workers from 1967 to 1996. (The World Almanac 1998)

Average Number of Weekly Hours and Earnings for U.S. Production Workers (1967-1996)YearWeekly HourWeekly Earnings196738.0$101.84196837.8$107.73196937.7$114.61197037.1$119.83197136.9$127.31197237.0$136.90197336.9$145.39197436.5$154.76197536.1$163.53197636.1$174.45197736.0$189.00197835.8$203.70197935.7$219.91198035.3$235.10198135.2$255.20198234.8$267.26198335.0$280.70198435.2$292.86198534.9$299.09198634.8$304.85198734.8$312.50198834.7$322.02198934.6$334.24199034.5$345.35199134.3$353.98199234.4$363.61199334.5$373.64199434.7$385.86199534.5$394.34199634.4$406.26

Part 1

1. Construct a scatter diagram and comment on the relationship, if any, between the variables Weekly Hoursand Weekly Earnings.
2. Determine and interpret the correlation for hours worked and earnings. The CORREL function in Excel will be helpful. Based upon the value of the correlation, is your answer to the previous question reasonable?
3. Based upon the data given, estimate the average weekly earnings for a workweek of 33.8 hours. How confident are you in your estimate?You should use a linear regression model to make your prediction. To create the linear regression model in Excel, right-click on a data point and click Add Trendline... In the options that display on the right, click Display Equation on chart.
4. Increase/decrease in weekly hours:
5. a) For a production worker who wishes to increase weekly earnings, would you recommend a decrease in hours worked per week? Why or why not?
6. b) Does a decrease in hours worked cause an increase in weekly pay?
7. c) What other variables could contribute to an increase in weekly pay?

Part 2

Using the same table of data:

1. Construct a scatter diagram and comment on the relationship, if any, between the variables Year and Hours Worked.
2. Determine and interpret the correlation for the year and hours worked. Based upon the value of the correlation, is your answer to the previous question reasonable?
3. Based upon the data given, estimate the average weekly hours worked this year. How confident are you in your estimate?You should use a linear regression model to make your prediction.
4. Assuming a linear correlation between these two variables, what will happen to the average weekly hours worked in the future? Is it possible for this pattern to continue indefinitely? Explain.

Part 3

Use the same table of data:

1. Construct a scatter diagram and comment on the relationship, if any, between thevariables Year and Weekly Earnings.
2. Determine and interpret the correlation for the year and weekly earnings. Based upon the value of the correlation, is your answer to the previous question reasonable?
3. Based upon the data given, estimate the average weekly earnings this year. How confident are you in your estimate?You should use a linear regression model to make your prediction.
4. Assuming a linear correlation between these two variables, what will happen to the average weekly earnings in the future? Is it possible for this pattern to continue indefinitely? Explain.

Make sure to upload theanswers to all the questions aboveandyour Excel file(s) (if used)to this dropbox. Actually you can answer your questions on your Excel worksheet and just upload 1 file if you like.

NOTE: If you are using Google Sheets, please download it as a PDF and submit it. Downloading it as an Excel file can sometimes remove graphs from the file.