A regional planner employed by a public university is studying the demographics of nine counties in the eastern region of an Atlantic seaboard state. She has gathered the following data:
County | Median Income | Median Age | Coastal | ||
A | $ | 49,374 | 58.5 | 0 | |
B | 46,850 | 46.5 | 1 | ||
C | 47,586 | 48.5 | 1 | ||
D | 47,781 | 45.5 | 1 | ||
E | 33,738 | 37.3 | 0 | ||
F | 35,553 | 43.4 | 0 | ||
G | 39,910 | 45.3 | 0 | ||
H | 37,266 | 34.2 | 0 | ||
I | 34,571 | 36.5 | 0 | ||
Is there a linear relationship between the median income and median age? (Round your answer to 3 decimal places.)
A.
The correlation of Income and Median Age is |
B.
Use regression analysis to determine the relationship between median income and median age. (Round your answers to 2 decimal places.) | ||||||
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C.
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D.
Include the aspect that the county is "coastal" or not in a multiple linear regression analysis using a "dummy" variable. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.) | ||||||||
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E.
Test each of the individual coefficients to see if they are significant. (Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places.) | ||||||||||||
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a)using excel formula correl(y,x)
correlation of Income and Median Age is =0.817
B)Income =10170.98+710.36*median age
c)
For each year increase in age, the income increases 710.36 on average
d)
Income =13611.39+582.85*median age+6497.41*Coastal
E)
t Stat | P-value | |
Intercept | 2.70 | 0.0357 ~0.04 |
median age | 5.00 | 0.0024~ 0.00 |
coastal | 3.77 | 0.0093~ 0.01 |
A regional planner employed by a public university is studying the demographics of nine counties in...
A regional planner employed by a public university is studying the demographics of nine counties in the eastern region of an Atlantic seaboard state. She has gathered the following data: County Median Income Median Age Coastal A $ 46,757 50.1 0 B 48,213 49.9 0 C 46,588 57.9 1 D 47,586 52.5 0 E 34,097 37.7 0 F 30,963 45.1 1 G 33,632 43.5 1 H 35,971 48.2 1 I 30,131 33.5 1 Click here for the Excel Data File...
A regional planner is studying the demographics in a region of a particular province. She has gathered the following data on nine counties. Population > 400 000 Median County Income ($) $33626 39856 42234 44508 41311 43614 41414 43046 44150 Median Age 34.2 60.5 60.5 59.8 60.3 34.8 35.3 34.2 30.6 a. Is there a linear relationship between the median income and median age? (Round the final answer to 3 decimal places.) No , the coefficient of correlation of Income...
1. Include the aspect that the county is "coastal" or not in a
multiple linear regression analysis using a "dummy" variable.
2. Test each of the individual coefficients to see if they are
significant.
3. What would a histogram look like of the residuals? A scatter
plot?
Ched Exercise 14-22 (LO14-1, LO14-5) A regional planner employed by a public university is studying the demographics of nine counties in the eastern region of an Atlantic seaboard state. She has gathered the...
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the owner of maumee Ford-Volvo
Saved Help Save & Exit Check my The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. Car Age (years) Selling Price (5000) 9.3 7.6 3.0 4.0 5.3 WAN 6.2 4.8 10.1 9.1 Click here for the Excel Data File a. Determine the regression equation. (Negative amounts...
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