A company tracks its customers' age and income. A random sample of 25 customers shows the following scatterplot of Total Yearly Purchases (TYP) by age. The correlation between TYP and age isr=0.024. Summary statistics for the two variables are in the following table. 1400- SD 8.739 yrs Mean 27.112 yrs Age Total Yearly Purchase 700- 572.401 $250.089 30 Age a) What is the linear regression equation for predicting Total Yearly Purchase from age? TYP =J+ (DAge (Round the final answer three decimal places as needed. Round all intermediate values to three dzimal places as needed.) b) Do the assumptions and conditions for regression appear to be met? O No O Yes c) What is the predicted average Total Yearly Purchase for a 26-year-old? (Round to two decimal places as needed.) Click to select your answer(s). (uyop) dAL

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Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.