20,000 10,000 10,000 -20,000 30,000 40,000 50,000 60,000 70,000 Predicted ($) 20,000 10,000 -10,000 -20,000 Normal Scores Residuals (S) Residuals ($)

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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Education vs. income The following displays examine
the median income and education level (years in school)
for several U.S. cities.

Variable Count Mean StdDev
Education 57 10.9509 0.848344
Income 57 32742.6 3618.01
Dependent variable is: Income
R-squared = 32.9%
s = 2991 with 57 - 2 = 55 degrees of freedom
Variable Coefficient SE(Coeff) t-ratio P-value
Intercept 5970.05 5175 1.15 0.2537
Education 2444.79 471.2 5.19 ...0.0001
a) Do you think the assumptions for inference are met?
Explain.
b) Does there appear to be an association between edu-
cation and income levels in these cities?
c) Would this association appear to be weaker, stronger,
or the same if data were plotted for individual people
rather than for cities in aggregate? Explain.
d) Create and interpret a 95% confidence interval for the
slope of the true line that describes the association
between income and education.
e) Predict the median income for cities where residents
spent an average of 11 years in school. Describe your
estimate with a 90% confidence interval, and interpret
that result.
20,000
10,000
10,000
-20,000
30,000
40,000
50,000
60,000
70,000
Predicted ($)
20,000
10,000
-10,000
-20,000
Normal Scores
Residuals (S)
Residuals ($)
Transcribed Image Text:20,000 10,000 10,000 -20,000 30,000 40,000 50,000 60,000 70,000 Predicted ($) 20,000 10,000 -10,000 -20,000 Normal Scores Residuals (S) Residuals ($)
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