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

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

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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 -…