Question
An economics lecturer wants to study the relationship between income (in $1000s) and education (in years)....
An economics lecturer wants to study the relationship between income (in $1000s) and education (in years). A random sample of ten individuals in their thirties is taken and the results given below.
|
Education, x |
16 |
13 |
15 |
10 |
13 |
10 |
19 |
16 |
13 |
15 |
|
Income, y |
73 |
45 |
65 |
40 |
48 |
41 |
95 |
72 |
62 |
59 |
Calculate three decimal places, the lower limit for a 90% interval estimate for the income of an individual with 14 years education (do not convert to thousands of dollars)
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