Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %) that works in agriculture in 1960 are in the table below ('OECD economic development,' 2013).X, percent of labor in agriculture (in %)Y, income (in 1960 dollars/person)151242563242097742290111361275046100579177236811181018104914164420101315103525839 c) Find the equation of the best-fitting line (the least squares regression equation).Round values to 2 decimal places.Include the restricted domain.equation: ? =restricted domain:% <= x <=• Every time we increase Select an answerSelect an answer byd) Interpret the slope from part c in the context of this problem. (Pay attention to the units). When Select an answerSelect an answer* X%we can expect Select an answer✓ise) Interpret the Y-intercept from part c in the context of this problem. Include units.to beDoes it make sense to interpret the Y-intercept on this problem?Why or why not? Select an answerbyVon average.we expectf) Should you use the regression equation to predict the income of a randomly selected European countrythat has a percent of labor in agriculture of 7 %?Select an answer f) Should you use the regression equation to predict the income of a randomly selected European countrythat has a percent of labor in agriculture of 7 %?Select an answerShould you use the regression equation to predict the income of a randomly selected European countrythat has a percent of labor in agriculture of 137 %?Select an answerLooking at your answers above, predict the income for the one above that it made sense to do so.Make sure you use the stored equation and not the rounded equation from part c.Round final answer to 2 decimal places.• The predicted income for a randomly selected European country that has a percent of labor inagriculture of% isg) Compute the residual for the following ordered pair in the data: (23, 681).Make sure you use the stored equation and not the rounded equation from part c.Round final answer to 2 decimal places.The residual for the European country with a percent of labor in agriculture of 23 % isInterpret what this value means in the context of this problem.• The actual income of a randomly selected European country with a percent of labor in agriculture of23 % isSelect an answer ✓ what was predicted.

c)By the given data, we use R-software and get outputs asRegression line :Ŷ = 1289.94 -…

Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %) that works in agriculture in 1960 are in the table below ('OECD economic development,' 2013). X, percent of labor in agriculture (in %) Y, income (in 1960 dollars/person) 15 1242 56 324 20 977 42 290 11 1361 27 504 6 1005 79 177 23 681 11 810 18 1049 14 1644 20 1013 15 1035 25 839

Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %) that works in agriculture in 1960 are in the table below ('OECD economic development,' 2013). X, percent of labor in agriculture (in %) Y, income (in 1960 dollars/person) 15 1242 56 324 20 977 42 290 11 1361 27 504 6 1005 79 177 23 681 11 810 18 1049 14 1644 20 1013 15 1035 25 839

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: 13?

A: Step 1:Null and Alternative Hypotheses H0: The rods produced in 2021 are the same length as the rods…

Q: In 2017, the entire fleet of light-duty vehicles sold in the United States by each manufacturer must…

A: The given data is as follows:Population mean, Population standard deviation,

Q: The number of pounds of steam used per month by a chemical plant is thought to be related to the…

A: Given The number of pounds of steam used per month by a chemical plant is thought to be related to…

Q: 9. Cell Phone Subscribers The following data represent the number of cell phone subscribers in the…

A: The table is given having no of subscribers in a year.

Q: 1. Interpret the coefficient estimates 2. Explain how can test the hypothesis that ? 2 related to…

A: 1. The coefficient of vala is 0.0008834, which means for every 1000$ increase in vala (value added…

Q: your car is more crowded than you think. table 5.8 reports results from a 1969 personal…

A: We know that Mean = sum of all observations /total number of observations

Q: Is the following variable categorical or quantitative? Collect data from a sample of teenagers with…

A: A variable is said to be categorical if it takes the values of category or labels. The quantitative…

Q: Can someone explain this from a mathematical perspective? Find a relation between the fraction of…

A: Given :- A relation between the fraction of islands occupied by a species and time. There is a fixed…

Q: An online business sells two varieties of cat food, 'standard' and 'luxury'. It orders these from…

A: The cost of cat food increased by 9.6% between 2021 and 2022, which is less than the overall…

Q: Does the scatterplot below show evidence of a positive or negative linear relationship between the…

A: The given plot shows the scatterplot for the variable’s percent of people age 25+ with BA degree…

Q: The average prices and quantities of six items grown in Nakuru County are shown in the following…

Q: Assuming the lowest decile of men receive an average of $800/month in Social Security, while the…

A: Introduction:Observe the “Born in 1940” curve in the given graph. The average of the lowest decile,…

Q: (a) For these 24 students, as the number of hours increases, the amount of money spent tends to…

A: From the above diagram, the answer can be given as, (a) For these 24 students, as the number of…

Q: An economist want to determine the relation between one’s FICO score, x, and the interest rate of a…

A: Least square regression: Suppose (x1, y1), (x2, y2)---(xn, yn) are n pairs of observations on…

Q: If data show that a particular exercise has a strong negative correlation with an individual's…

A: Given, If data that shown that a particular exercise has a strong negative correlation with an…

Q: A company has collected and smoothened its historical yearly sales data of a product from 2015 up to…

A: The table shows the sales and moving averages.

Q: The following table shows mean annual earnings for women and men by their highest achieved level of…

A: Annual earnings of a man with a bachelor's degree= $ 87,718 . Annual earnings of a woman with a…

Q: If the actual sales for the years 2017, 2018, 2019, and 2020 were 1000, 2000, 3000, and 4000…

A: Years : { 2017,2018,2019,2020 } Actual sales : (X) { 1000,2000,3000,4000 } Forcast for actual…

Q: 6. In the table beloe provides predicted population data about the world and India.Region Predicted…

A: Given data is: Predicted Population (millions)Region: 2035…

Q: A manufacturing firm produces its products in batches using sophisticated machines and equipment.…

A: The given data is as follows: Batch sizeLabor…

Q: The accompanying data represent the total compensation for 12 randomly selected chief executive…

A: The regression analysis is a statistical procedure that allow us to find the linear association…

Question

Income (in 1960 dollars/person) for European countries and the percent of the labor force (in %) that works in agriculture in 1960 are in the table below ('OECD economic development,' 2013).

X, percent of labor in agriculture (in %)	Y, income (in 1960 dollars/person)
15	1242
56	324
20	977
42	290
11	1361
27	504
6	1005
79	177
23	681
11	810
18	1049
14	1644
20	1013
15	1035
25	839

c) Find the equation of the best-fitting line (the least squares regression equation).
Round values to 2 decimal places.
Include the restricted domain.
equation: ? =
restricted domain:
% <= x <=
• Every time we increase Select an answer
Select an answer by
d) Interpret the slope from part c in the context of this problem. (Pay attention to the units)
. When Select an answer
Select an answer
* X
%
we can expect Select an answer
✓is
e) Interpret the Y-intercept from part c in the context of this problem. Include units.
to be
Does it make sense to interpret the Y-intercept on this problem?
Why or why not? Select an answer
by
V
on average.
we expect
f) Should you use the regression equation to predict the income of a randomly selected European country
that has a percent of labor in agriculture of 7 %?
Select an answer

f) Should you use the regression equation to predict the income of a randomly selected European country
that has a percent of labor in agriculture of 7 %?
Select an answer
Should you use the regression equation to predict the income of a randomly selected European country
that has a percent of labor in agriculture of 137 %?
Select an answer
Looking at your answers above, predict the income for the one above that it made sense to do so.
Make sure you use the stored equation and not the rounded equation from part c.
Round final answer to 2 decimal places.
• The predicted income for a randomly selected European country that has a percent of labor in
agriculture of
% is
g) Compute the residual for the following ordered pair in the data: (23, 681).
Make sure you use the stored equation and not the rounded equation from part c.
Round final answer to 2 decimal places.
The residual for the European country with a percent of labor in agriculture of 23 % is
Interpret what this value means in the context of this problem.
• The actual income of a randomly selected European country with a percent of labor in agriculture of
23 % is
Select an answer ✓ what was predicted.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Description of regression line:

VIEW

Step 2: Description of interpretation of slope and Intercept:

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Attached
C8. According to the Pew Research Center (2015), recent immigrants are better educated than earlier immigrants to the United States. The change was attributed to the availability of better education in each region or country of origin. The percentage of immigrants 25 years of age and older who completed at least high school is reported in this table for 1970 to 2013. Write a statement describing the change over time in the percentage who completed at least a high school degree. 1970 1980 1990 2000 2013 Mexico 14 17 26 30 48 Other Central/South America 57 53 60 66 Asia 75 72 75 82 84 48 68 81 87 95 Europe 36 48 52 58 72 Caribbean 81 91 88 85 85 Africa Source: Pew Research Center, Modern Immigration Wave Brings 59 Million to U.S., Driving Population Growth and Change Through 2065, 2015. Retrieved from https://www.pewresearch.org/hispanic/2015/09/28/modern- immigration-wave-brings-59-million-to-u-s-driving-population-growth-and-change-through-2065/ 52
9. value= The table below lists all 50 states in the United States of America and their 2015 violent crime rates. This rate measures the number of violent crimes in a state per 10,000 people. For instance, if a state had 12,000 violent crimes and a population size 2,300,000, its violent crime rate was $(2,300,00) 10,000 = 52. a. C. d. e. X TABLE 3.2: List of States with 2015 Violent Crime Rates Measured as Number of Violent Crimes per 10.000 Population Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana lowa Kansas Kentucky 43 64 42 46 40 31 26 49 47 37 25 22 38 36 27 34 21 Louisiana 52 Maine 13 Maryland 47 Massachusetts 41 Michigan 45 20 Minnesota 23 24 Mississippi 27 7 Missouri 43 20 Montana 25 Nebraska 26 Nevada 60 New Hampshire 22 New Jersey 29 New Mexico 61 New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington…
Because the total population in 2050 is much larger than the Comparison of Population in the United States in 1950 and 2050 (in millions of persons) 1950 population, comparing percentages in each age group is clearer than comparing counts. Make a table of the Age Group 1950 2050 percentage of the total population in each age group for both Under 10 years | 29.3 | 56.2 1950 and 2050. 10 to 19 years 21.8 || 56.7 Only one age group in 1950 represents a larger percentage of the population than it does in 2050. For that age group, 20 to 29 years | 24.0 | 56.2 30 to 39 years | 22.8 | 55.9 determine the difference of the percentages between 1950 and 2050. Report your answer to the tenth of a percent. 40 to 49 years 19.3 52.8 50 to 59 years 15.5 || 49.1 60 to 69 years| 11.0 | 45.0 70 to 79 years 5.5 34.5 difference in percentages: % 80 to 89 years 1.6 | 23.7 90 to 99 years 0.1 8.1 100 years and 0.6 over Total 151.1 310.6
Assuming equal effort (# of nets in the water has not changed and the fishing season dates have stayed the same) identify trends in the squid population you see in the data. Based on your textbook reading this week, speculate what processes or dynamics could produce the population trends seen in your data.
O Macmillan Learning In 2017, the entire fleet of light-duty vehicles sold in the United States by each manufacturer must emit an average of no more than 86 milligrams per mile (mg/mi) of nitrogen oxides (NOX) and nonmethane organic gas (NMOG) over the useful life ( 150,000 miles of driving) of the vehicle. NOX + NMOG emissions over the useful life for one car model vary Normally with mean 82 mg/mi and standard deviation 5 mg/mi. A company has 25 cars of this model in its fleet. What is the probability that the average NOX + NMOG level of these cars is above 86 mg/mi? Give your answer to four decimal places. probability: MacBook Air
Which of the following sets of data represent valid functions? OS = {(0, – 1), (3, 1), (6, 4), (7, 9), (13, 14)} || OF = {(- 3, – 2), (1, 2), (1, 4), (8, 9), (13, 15)} OR = {(-1, - 2), (2, 1), (4, 5), ( – 1, – 2), (10, 13)} | OG = {(- 4, - 5), (2, 3), (4, 5), (9, 8), (14, 10)} Calculator Check Answer MacBook Air
This dataset of size n - 51 is for the 50 states and the District of Columbia in the United States. The variables are - year 2002 birth rate per 1000 females 15 to 17 years old and z- poverty rate (the percent of the state's population living in households with in- comes below the federally defined poverty level) i- 13.1 - 22.3 R- 51, Su - E(-2) - 914.7 S, - E( -2)( - 6) - 1, 256.2 Su - E(m - M) - 3, 249 SSE - E(w - - 1, 509.6 1. Find A. A and r. 2. Write the fitted linear regression model for ý, in terms of z, A, and A- For A and , use the values you obtained in problem 1. 3. Interpret the slope of the least squares line based on the context. 4. Find SST, SE and SSR. 5. Find R* and . 6. Complete a chart for ANOVA df MS pvalue Source Regression Error Total 7. Complete a chart for Parameter Estimates. t-value pvalue Parameter Intercept Slope Estimate S.e. 8. What is the residual e, for the observation (.) - (20.1,31.5)? 9. What is the conclusion for the test Ha : -0 vs Ho : +0 with a -…