Coefficients:Estimate Std. Error t value Pr(>Itl)4248.71 17.20197.432e-16 ***0.0498 •(Intercept) 73082.38age> mean(data$income)[1] 81030.3> mean(data$age)[1) 41.54> cor(data$income, data$age)11] 0.06335362Please use the relevant portion of the R output to calculate the coefficient estimatefor b1.A Please use the relevant portionof the R output to calculate the t-statistic associated with b1.A Please use the relevant portion of theR output to calculate r².

A regression equation is used in forecasting.

Answered: Coefficients: Estimate Std. Error t…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2AGP

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Coefficients: Estimate Std. Error t value Pr(>Itl) 4248.71 17.201 97.43 (Intercept) 73082.38 2e-16 *. age 0.0498 . > mean(dataSincome) [1] 81030.3 > mean(data$age) [1) 41.54 > cor(data$income, data$age) i]0.06335362