Question
Question 3: The following data shows the yearly income (in $1000) and age of a sample...
Question 3:
The following data shows the yearly income (in $1000) and age of
a sample of seven individuals.
|
Income (in $1000) |
Age |
|
20 |
18 |
|
24 |
20 |
|
24 |
23 |
|
25 |
34 |
|
26 |
24 |
|
27 |
27 |
|
34 |
27 |
- Develop the least squares regression equation.
- Estimate the yearly income of a 30-year old individual.
- Compute the coefficient of determination.
- Use a t test to determine whether the slope is significantly different from zero. Use level of significance as 0.05.
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