A researcher at a large company has collected data on the beginning salary and current salary of 50 randomly selected employees. The correlation between the data sets is r = 0.912. The summary statistics from the data collected are shown bellow: Beginning SalaryEnding SalaryMeanx¯=56,340y¯=82,070Standard deviationSx = 5,470Sy = 7,800 Use a complete sentence to describe the strength and direction of the linear relationship between beginning salary and current salary. Find the equation of the least-squares regression line. (Round to two decimal places)

By regression we mean estimation or prediction of the average value of one variable for specified…

Answered: A researcher at a large company has…

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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A researcher at a large company has collected data on the beginning salary and current salary of 50 randomly selected employees. The correlation between the data sets is r = 0.912. The summary statistics from the data collected are shown bellow:

	Beginning Salary	Ending Salary
Mean	x¯=56,340	y¯=82,070
Standard deviation	S_x= 5,470	S_y= 7,800

Use a complete sentence to describe the strength and direction of the linear relationship between beginning salary and current salary.

Find the equation of the least-squares regression line. (Round to two decimal places)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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