Toby has collected data on years of work experience and annual salaries from 5 different office workers in his home city of New New York. Work experience is measured to the nearest half-year, and annual salaries are measured in thousands of dollars.

Years of work experience	Salary
20	106
2.5	51
8.5	84
11.5	91
11	97

Use this data to answer the following questions.

a) Toby would like to use this data to build a model to estimate the annual incomes of office workers based on years of work experience. Plot an appropriate graph based on the data provided.(How to graph this on excel?)

b) State the correlation between years of work experience and annual salary. You do not need to show any working for this part.

Tony, one of Tobys colleagues, has performed a linear regression on this data to assist Toby.

c) Tony has found the values of and to be 56.41061 and 2.627692 respectively. Explain what these numbers represent.

d) Under Tonys model, state explicitly the assumptions for the error term . By looking at the graph in part a), comment on the appropriateness of the use of a linear regression model.

(Hint: although not strictly necessary for this question, it may be useful to run a regression by yourself on this data)