Question

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 % (a) Predict the median income of a region in which 30% of adults 25 years and older have at least a bachelor's degree. $ 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 than expected because the expected income is $ (Round to the nearest dollar as needed.) Enter your answer in the answer box and then click Check Answer 2 Pema Clear All remaining WICE coursem UZU WOLISZ wastronom Terms of Use Privacy Policy Copyright 2020 Pearson Education Inc. All Rights Reserved

Answer 1

Solutions 0 (a) Given : The least-square regression Equation & Ý : = 856.5 X + 9410 pa donde X = 30% Ý = 856.5 X + 9410 bro (856:5*30) + quio 99 25695 +9010 $35, 105 G b) X 26:57 29 The expected Income is 856.5 X + 9410 - (856.5 * 26.5) + qu10 = 32107.25 v 32107 û 32107, But actual. Income y -> $ 35,574 So, this y greater than expected because. The expected Income Sy $32107