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
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