Question
Theleast-squares regression equation is y=574.3x+19,020 where y is the median income and x is the percentage of 25 years and older with at least abachelor's
Theleast-squares regression equation is
y=574.3x+19,020 where y is the median income and x is the percentage of 25 years and older with at least abachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.6774. Complete parts(a) through(d).
(a) Predict the median income of a region in which 25% of adults 25 years and older have at least abachelor's degree.
$
(Round to the nearest dollar asneeded.)
(b) In a particularregion, 29.5 percent of adults 25 years and older have at least abachelor's degree. The median income in this region is $39,404. Is this income higher than what you wouldexpect? Why?
This is higher or lower?
than expected because the expected income is $
(Round to the nearest dollar asneeded.)
please show work
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