Consider the following regression equation representing the linear relationship between the Canada Child Benefit provided for a married couple with 3 children under the age of 6, based on their annual family net income: ŷ = 121.09 -0.57246x R² = 0.894 where y = annual Canada Child Benefit paid (in $100s) x = net annual family income (in $1000s) Source: Canada Revenue Agency a. As the net annual family income increases, does the Canada Child Benefit paid increase or decrease? Based on this, is the correlation between the two variables positive or negative?
Consider the following regression equation representing the linear relationship between the Canada Child Benefit provided for a married couple with 3 children under the age of 6, based on their annual family net income: ŷ = 121.09 -0.57246x R² = 0.894 where y = annual Canada Child Benefit paid (in $100s) x = net annual family income (in $1000s) Source: Canada Revenue Agency a. As the net annual family income increases, does the Canada Child Benefit paid increase or decrease? Based on this, is the correlation between the two variables positive or negative?
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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c) What will be the estimated Canada Child Benefit be (in dollars) for a married couple with 3 children under the age of 6 if the net annual family income is $82,400?
Transcribed Image Text:Consider the following regression equation representing the linear relationship
between the Canada Child Benefit provided for a married couple with 3 children under
the age of 6, based on their annual family net income:
ŷ 121.09 - 0.57246x R² = 0.894
=
where y = annual Canada Child Benefit paid (in $100s)
x = net annual family income (in $1000s)
Source: Canada Revenue Agency
a. As the net annual family income increases, does the Canada Child Benefit paid
increase or decrease? Based on this, is the correlation between the two variables
positive or negative?
Transcribed Image Text:b. Calculate the correlation coefficient and determine if the relationship between the
two variables is strong, moderate or weak.
the relationship is (click to select)
r =
Round to 3 decimal places
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