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3. The following table shows the annual income, in dollars, and amount spent on vacation, in dollars, for a sample of 8 families. INCOME 41,100 53,000 2,400 27,400 65,800 2,500 98,100 72,000 5,100 56,700 34,400 3,200 VACATION 2,700 1,700 2,800 4,200 a) Create a scatterplot of the data in the table. b) Calculate AND interpret the correlation coefficient shown in the scatterplot created in part (a). c) Calculate the least squares regression line and plot it on the scatterplot in (a). d) Predict the amount spent on vacation for a household earning $50,000.

3. The following table shows the annual income, in dollars, and amount spent on vacation, in dollars, for a sample of 8 families. INCOME 41,100 53,000 2,400 27,400 65,800 2,500 98,100 72,000 5,100 56,700 34,400 3,200 VACATION 2,700 1,700 2,800 4,200 a) Create a scatterplot of the data in the table. b) Calculate AND interpret the correlation coefficient shown in the scatterplot created in part (a). c) Calculate the least squares regression line and plot it on the scatterplot in (a). d) Predict the amount spent on vacation for a household earning $50,000.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 37E: Find the positive geometric mean between 4 and 64.
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The following table shows the annual income, in dollars, and amount spent on vacation, in dollars, for a sample of 8 families. | Income | Vacation | |---------|----------| | 41,100 | 2,700 | | 53,000 | 2,400 | | 27,400 | 1,700 | | 65,800 | 2,500 | | 98,100 | 2,800 | | 72,000 | 5,100 | | 56,700 | 4,200 | | 34,400 | 3,200 | a) Create a scatterplot of the data in the table. b) Calculate AND interpret the correlation coefficient shown in the scatterplot created in part (a). c) Calculate the least squares regression line and plot it on the scatterplot in (a). d) Predict the amount spent on vacation for a household earning $50,000.
Transcribed Image Text:The following table shows the annual income, in dollars, and amount spent on vacation, in dollars, for a sample of 8 families. | Income | Vacation | |---------|----------| | 41,100 | 2,700 | | 53,000 | 2,400 | | 27,400 | 1,700 | | 65,800 | 2,500 | | 98,100 | 2,800 | | 72,000 | 5,100 | | 56,700 | 4,200 | | 34,400 | 3,200 | a) Create a scatterplot of the data in the table. b) Calculate AND interpret the correlation coefficient shown in the scatterplot created in part (a). c) Calculate the least squares regression line and plot it on the scatterplot in (a). d) Predict the amount spent on vacation for a household earning $50,000.
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