Do you need more years of education to get further into debt? This question can be answered
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Do you need more years of education to get further into debt? This question can be answered by determining the relationship between number of years of education (EDUC) and household debt (DEBT). Undertake a regression analysis to determine the following.
a. Is there sufficient evidence to infer a linear relationship between the two variables?
b. Interpret the slope coefficient.
c. Calculate the coefficient of determination and describe what this statistic tells you about the linear relationship.
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a H 0 1 0 H 1 1 0 t 1110 pvalue 0 There is enough evidence to conclude that education an...View the full answer
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