Best-paid CEOs. Refer to 24/7 Wall Street’s 2019 ranking of the 50 highest-paid CEOs in Table 2.1 (p. 59). Data were collected on a CEO’s current salary, age, and ratio of salary to a typical worker’s pay at the firm.

a. Create a scatterplot to relate a CEO’s ratio of salary to worker pay to the CEO’s age. Comment on the strength of the association between these two variables.

b. Conduct an outlier analysis of the ratio variable. Identify the highly suspect outlier in the data.

c. Remove the highly suspect outlier from the data and recreate the scatterplot of part

a. What do you observe? Applying the Concepts—Advanced