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14,497 where y is the 55000 and older with at least a indicates a linear relation nt of 0.7581. Complete parts 20000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % % of adults 25 years and older have at least a bachelor's degree.

14,497 where y is the 55000 and older with at least a indicates a linear relation nt of 0.7581. Complete parts 20000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % % of adults 25 years and older have at least a bachelor's degree.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Part C
The least-squares regression equation is y = 712.7x + 14,497 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7581. Complete parts (a) through (d). Q 55000- 20000- 15 20 25 30 35 40 45 50 55 60 Bachelor's % (a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. $ 28,751 (Round to the nearest dollar as needed.) (b) In a particular region, 26.2 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $29,951. Is this income higher than what you would expect? Why? This is lower than expected because the expected income is $ 33,170 (Round to the nearest dollar as needed.) (c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal. Do not round.) O A. For 0% of adults having a bachelor's degree, the median income is predicted to be $ O B. For a median income of $0, the percent of adults with a bachelor's degree is %. O C. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average. O D. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ on average. Median Income
Transcribed Image Text:The least-squares regression equation is y = 712.7x + 14,497 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7581. Complete parts (a) through (d). Q 55000- 20000- 15 20 25 30 35 40 45 50 55 60 Bachelor's % (a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. $ 28,751 (Round to the nearest dollar as needed.) (b) In a particular region, 26.2 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $29,951. Is this income higher than what you would expect? Why? This is lower than expected because the expected income is $ 33,170 (Round to the nearest dollar as needed.) (c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal. Do not round.) O A. For 0% of adults having a bachelor's degree, the median income is predicted to be $ O B. For a median income of $0, the percent of adults with a bachelor's degree is %. O C. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average. O D. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ on average. Median Income
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