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 Construct a scatter diagram and comment on the relationship, if any, between the variables Weekly Hoursand Weekly Earnings 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 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 Increase decrease in weekly hours 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 b) Does a decrease in hours worked cause an increase in weekly pay c) What other variables could contribute to an increase in weekly pay Part 2 Using the same table of data Construct a scatter diagram and comment on the relationship, if any, between the variables Year and Hours Worked 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 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 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 Construct a scatter diagram and comment on the relationship, if any, between thevariables Year and Weekly Earnings 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 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 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

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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

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

Construct a scatter diagram and comment on the relationship, if any, between the variables Weekly Hoursand Weekly Earnings.
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?
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.
Increase/decrease in weekly hours:
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?
b) Does a decrease in hours worked cause an increase in weekly pay?
c) What other variables could contribute to an increase in weekly pay?

Part 2

Using the same table of data:

Construct a scatter diagram and comment on the relationship, if any, between the variables Year and Hours Worked.
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?
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.
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:

Construct a scatter diagram and comment on the relationship, if any, between thevariables Year and Weekly Earnings.
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?
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.
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.