Question

A 55000 The least-squares regression equation is y=856.5x +9,410 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.8403. Complete parts (a) through (d) 20000 15 20 25 30 35 40 45 50 55 60 Bachelor's % $ 35,105 (Round to the nearest dollar as needed.) (b) In a particular region, 26.5 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $35,574. Is this income higher than what you would expect? Why? This is higher than expected because the expected income is S 32107 (Round to the nearest dollar as needed.) (c) Interpret the slope Select the correct choice below and fill in the answer box to cyplete your choice (Type an integer or decimal. Do not round) O A. For 0% of adults having a bachelor's degree, the median income is predicted to be s OB. For a median income of So, the percent of adults with a bachelor's degree is % O C. For every dollar increase in median income the percent of adults having at least a bachelor's degree is %, on average OD. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ on average Click to select and enter your answer(s) and then click Check Answer part remaining Clear All This course (Summer 2020 MATH 1530-N32-Raiszadeh) is based on Sullivan Statistics! Informed Decisions Using Data, Se with integrated Review

Answer 1

Solutions 0 Given: The beast-square regression Capuation is <> = 856.5 X + 9410 (a) X = 30% 4 - 8565 X + 3H10 a (856.5*30 ) + quio = 25695+quo -$35,105 (b) X: 26:57 29 The expected Income is <> • 856.5 X + 9410 - (856.5 * 26.5) + 9410 = 32107.25 ~ 32107 32107 But actual income y > $357574 plate So, this is greater than Expected because the expected druome Sy $32107 +81 Every prescent Inercases da adults having at least bachelor's the degree, the median Income sneruoges by $857 on average. (c) a