draw a scatterplot for the two variables, Statistic Help

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Mathematics

Description

For each of these,

(a) draw a scatterplot for the two variables

(b) find the correlation coefficient. Discuss its meaning.

(c) find the linear regression equation which predicts y given a value of x. Interpret the meaning of the slope and the y-intercept. For #1, estimate the income of someone who is 32 years old. For #2, estimate the savings of someone who earns $60,000.

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20161127125759regression_assign.xls #1. Age (x) 27 32 41 35 37 28 31 40 Income (1000s) (y) 34 42 37 48 54 32 45 78 #2 ($ thousands) Income (x) 42 32 27 31 41 35 37 28 31 40 Savings (y) 5 3 0.5 4 6 5 6 3 2 5 For each of these, (a) draw a scatterplot for the two variables (b) find the correlation coefficient. Discuss its meaning. (c) find the linear regression equation which predicts y given a value of x. Interpret the meaning of the slope and the y-intercept. For #1, estimate the income of someone who is 32 years old. For #2, estimate the savings of someone who earns $60,000. Page 1
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Explanation & Answer

Hi Please check the attached excel file for details, let me know if you have any question, thank you. Best, James

Column 1 Column 2
Column 1
1
Column 2 0.615402
1

Column 1 Column 2
Column 1
1
Column 2 0.838416
1

20161128030002regression_assign_1
#1. Age (x)
27
32
41
35
37
28
31
40

Income (1000s) (y)
34
42
37
48
54
32
7
45 For each of these,
78 (a) draw a scatterplot for the two variables
6
(b) find the correlation coefficient. Discuss i...


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