An economist is studying the job market in Denver-area neighborhoods. Let x represent the total number of jobs in a given neighborhood, and let y represent the number of entry-level jobs in the same neighborhood. A sample of six Denver neighborhoods gave the following information (units in hundreds of jobs).x163350285025y236593Draw a scatter diagram displaying the data. You do not need to share your diagram.Verify the given sums∑x=202, ∑x2=7754, ∑y=28, ∑y2=164, and ∑xy=1096Find a and b. Then find the equation of the least-squares line yˆ=a+bx.For a neighborhood with x=40 jobs, how many are predicted to be entry-level jobs?

(1) Use EXCEL to construct the scatter plot. EXCEL procedure: Go to EXCEL Go to Insert menu…

Answered: An economist is studying the job market…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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An economist is studying the job market in Denver-area neighborhoods. Let x represent the total number of jobs in a given neighborhood, and let y represent the number of entry-level jobs in the same neighborhood. A sample of six Denver neighborhoods gave the following information (units in hundreds of jobs).

x	16	33	50	28	50	25
y	2	3	6	5	9	3

Draw a scatter diagram displaying the data. You do not need to share your diagram.
Verify the given sums∑x=202, ∑x2=7754, ∑y=28, ∑y2=164, and ∑xy=1096
Find a and b. Then find the equation of the least-squares line yˆ=a+bx.
For a neighborhood with x=40 jobs, how many are predicted to be entry-level jobs?