Question

Use the following information for all questions.

The U.S. Census Bureau reported the following unemployment rates (y) associated with the given number of years of education (x).

Years of Education	Unemployment Rate
5.0	16.8
7.5	17.1
8.0	15.3
10.0	20.6
12.0	11.7
14.0	8.1
16.0	3.8

8. a. Find the predicted unemployment rate for 8 years of education. Give the response in a full sentence.

8.b. Find the residual for 8 years of education.

9. Was the predicted value an overestimate or an underestimate or was it exactly equal to the observed value?

a. Underestimate

b. Exactly Equal

c. Overestimate

10. Find the 95% prediction interval for 8 years of education. Round the endpoints to two decimal places.

a. (8.10, 22.50)

b. (11.7,18.9)

c. (9.07, 23.47)

d. (12.67, 19.87)

11. Find the coefficient of determination, r², rounded to one decimal place in percentage form, and interpret the value in context of the problem.

Answer 1

8. a. Find the predicted unemployment rate for 8 years of education. Give the response in a full sentence.

The predicted unemployment rate for 8 years of education is 16.27.

8.b. Find the residual for 8 years of education.

The residual for 8 years of education = -0.97

9. Was the predicted value an overestimate or an underestimate or was it exactly equal to the observed value?

a. Underestimate

10. Find the 95% prediction interval for 8 years of education. Round the endpoints to two decimal places.

(6.12, 26.42)

11. Find the coefficient of determination, r2, rounded to one decimal place in percentage form, and interpret the value in context of the problem.

68.2% fo the variation in the model is explained.