Develop a scatter plot between annual household spending and annual income. The scatter diagram should include a proper title, a solid trend line, axis titles, and a regression equation, and the Coefficient of Determination (R –square). Monthly Household Spending ($)Annual Household Income ($)HouseholdSize4,0165400033,1593000025,1003200044,7425000051,8643100024,0705500022,7313700013,3484000024,7646600044,1105100034,2082500034,2194800042,4772700012,5143300024,2146500034,9656300044,4124200062,4482100022,9954400014,1713700055,6786200063,6232100035,3015500073,0204200024,8284100075,5735400062,5833000013,8664800023,5863400055,0376700043,6055000025,3456700055,3705500063,8905200024,7056200034,1576400023,5792200033,8902900042,9723900023,1213500014,1833900043,7305400034,1272300062,9212700024,6032600074,2736100023,0673000023,0742200044,8204600055,149660004

Explanation: The equation of regression line is: Y = a + bX Where, X is independent variable. Y is dependent variable. Here, in this problem, Income is independent variable that is income is X Spending is dependent variable. That is spending is YIn MS Excel Enter the data in MS Excel Select the data Go To Insert tab Click on Insert scatter Choose scatter Now scatter plot is ready Next, Go To Chart Design tab Click on Quick Layout Choose Layout 9 Answer: The regression equation is: Y = 0.0405X + 2204 The coefficient of determination is: R2 = 0.3981

Answered: Develop a scatter plot between annual…

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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Develop a scatter plot between annual household spending and annual income. The scatter diagram should include a proper title, a solid trend line, axis titles, and a regression equation, and the Coefficient of Determination (R –square).

Monthly Household Spending ($)	Annual Household Income ($)	Household Size
4,016	54000	3
3,159	30000	2
5,100	32000	4
4,742	50000	5
1,864	31000	2
4,070	55000	2
2,731	37000	1
3,348	40000	2
4,764	66000	4
4,110	51000	3
4,208	25000	3
4,219	48000	4
2,477	27000	1
2,514	33000	2
4,214	65000	3
4,965	63000	4
4,412	42000	6
2,448	21000	2
2,995	44000	1
4,171	37000	5
5,678	62000	6
3,623	21000	3
5,301	55000	7
3,020	42000	2
4,828	41000	7
5,573	54000	6
2,583	30000	1
3,866	48000	2
3,586	34000	5
5,037	67000	4
3,605	50000	2
5,345	67000	5
5,370	55000	6
3,890	52000	2
4,705	62000	3
4,157	64000	2
3,579	22000	3
3,890	29000	4
2,972	39000	2
3,121	35000	1
4,183	39000	4
3,730	54000	3
4,127	23000	6
2,921	27000	2
4,603	26000	7
4,273	61000	2
3,067	30000	2
3,074	22000	4
4,820	46000	5
5,149	66000	4