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.
Unformatted Attachment Preview
Purchase answer to see full attachment
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...