Question

The table below shows the income for an employee over his first 8 years of work....

The table below shows the income for an employee over his first 8 years of work. Use this to estimate

his income for his 15th year of work.

Years

1

2

3

4

5

6

7

8

Income

45,000

46,814

48,212

52,870

54,125

58,532

61,075

62,785

Linear Regression Equation: ____________________

Correlation Coefficient (r): _________

Type of Correlation: ______________________

Is the correlation strong? Explain

Using the linear regression equation predict

his income for his 15th year of work.

Homework Answers

Answer #1
Years (X) Income (Y) X * Y
1 45000 45000 1 2.03E+09
2 46814 93628 4 2.19E+09
3 48212 144636 9 2.32E+09
4 52870 211480 16 2.8E+09
5 54125 270625 25 2.93E+09
6 58532 351192 36 3.43E+09
7 61075 427525 49 3.73E+09
8 62785 502280 64 3.94E+09
Total 36 429413 2046366 204 2.34E+10



r = 0.992

There is positive and strong correlation between two variables

Equation of regression line is


b = 2714.464



a =( 429413 - ( 2714.4643 * 36 ) ) / 8
a = 41461.536
Equation of regression line becomes



When X = 15
= 41461.536 + 2714.464 X
= 41461.536 + 2714.464 * 15
= 82178.5

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The table shows the number of years of education of parent and the number of years...
The table shows the number of years of education of parent and the number of years of education of their child. Determine the correlation coefficient and briefly describe the relationship between the two variables, Conduct a hypothesis test to determine if there is a significant linear correlation between the two variables. What is the critical value, Conduct a hypothesis test to determine if there is a significant linear correlation between the two variables. What is the test statistic, Conduct a...
the table below shows the income and expenditure in ($000) for a man in ten months...
the table below shows the income and expenditure in ($000) for a man in ten months ; INCOME (X) =8 ,18 ,52, 38,26,60,40,50,82,75. AND EXPENDITURE (Y) =2, 4, 5, 7, 9, 11, 13, 15, 20, 23. COMPUTE REGRESSION LINE OF VARIABLE Y ON VARIABLE X USING TO OBTAIN bo estimate and b1 estimate. find the residual U estimate and U^2 estimate
The table below shows the arm spans (in inches) and the heights (in inches) of 10...
The table below shows the arm spans (in inches) and the heights (in inches) of 10 randomly selected people. Arm Span, x 51 52 56 49 54 59 58 55 52 56 Height, y 51 53 54 50 55 57 58 57 52 56 1) Find the correlation coefficient for this data set. Make sure your answer follows the rounding rule in the direction. r = 2) Is the linear relationship between arm span and height strong, weak or moderate?...
The following table shows data for the cost of natural gas in Maryland (in dollars per...
The following table shows data for the cost of natural gas in Maryland (in dollars per thousand cubic feet) for each month of the year 2018. Month   Price in $ per Million Btu 1 8.38 2 7.99 3 7.73 4 8.20 5 8.73 6 8.99 7 9.25 8 9.30 9 10.65 10 8.19 11 8.69 12 9.69 Define the explanatory and response variables for this problem. Use the calculator to obtain the linear regression line of best fit line; round...
# 6 The table below shows a measure of the “liberalness” of various American cities and...
# 6 The table below shows a measure of the “liberalness” of various American cities and a measure of the corresponding asking price per square foot for housing. Liberalness 1 0 6 7 10 15 16 19 22 25 26 30 Price 2 3 2 2 0 7 6 8 7 8 4 16 Enter the slope and y-intercept of the regression line, using liberalness as the independent variable. Round your answers to two decimal places. Slope:         Intercept: Enter the correlation...
The following table shows the hot dogs bought from a street vendor over the course of...
The following table shows the hot dogs bought from a street vendor over the course of eight days​ ("Demand"). Also shown is the temperature for each day in degrees Celsius. Complete parts a and b below. nbsp Temperature (degrees C ) 18 13 22 18 8 13 18 20 Demand 45 31 35 38 19 22 43 32 a. Calculate the slope and​ y-intercept for the linear regression equation for these data. b. Predict the demand for hot dogs on...
A particular professor has noticed that the number of people, y, who complain about his attitude...
A particular professor has noticed that the number of people, y, who complain about his attitude is dependent on the number of cups of coffee, x, he drinks. From eight days of tracking he compiled the following data: People (y) 11 8 8 6 8 5 4 4 Cups of coffee (x) 1 2 2 3 3 4 4 5 Unless otherwise stated, you can round values to two decimal places. a) Using regression to find a linear equation for...
The table below shows the number of cars sold last month by seven employees at Concord...
The table below shows the number of cars sold last month by seven employees at Concord Motors and their number of years of sales experience. Experience Sales 1 8 2 6 2 7 4 14 5 9 6 13 8 10 Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. The y-intercept for the regression equation is ________. 2.165 4.598 6.940 8.337
The following table shows the hot dogs bought from a street vendor over the course of...
The following table shows the hot dogs bought from a street vendor over the course of eight days​ ("Demand"). Also shown is the temperature for each day in degrees Celsius. Complete parts a and b below. Temperature °C 21 12 23 19 8 11 18 22 Demand 48 30 36 42 17 25 41 35 a. Calculate the slope and​ y-intercept for the linear regression equation for these data. y=+x ​(Round to two decimal places as​ needed.) b. Predict the...
The table below shows the number of cars sold last month by seven employees at Concord...
The table below shows the number of cars sold last month by seven employees at Concord Motors and their number of years of sales experience. Experience Sales 1 8 2 6 2 7 4 14 5 9 6 13 8 10 Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. The 95% confidence interval that estimates the average monthly sales for an employee with 5 years of experience...