Is the value of education worth its cost? Education costs are easy to calculate. They include tuition, books and living expenses as well as the cost of foregone income that a job would have provided. In an effort to learn more about the value of education, a university vice-president gathered data from a sample of 150 men and women (30 years old). Each was asked how many years of formal education he or she had completed (x) and his or her income (in $1000) for the previous 12 months (y). Summaries of a study conducted of n=150 people gave the following results (in $1000 s) : Ex=1976, Ey= 11719, SSxx=1657, SSyy=65247, SSxy=6857 a) Calculate the correlation coefficient (r) relating number of years of formal education and income. b) Find the regression line. c) Identify and interpret the slope in the context of the problem.

Is the value of education worth its cost? Education costs are easy to calculate. They include tuition, books and living expenses as well as the cost of foregone income that a job would have provided. In an effort to learn more about the value of education, a university vice-president gathered data from a sample of 150 men and women (30 years old). Each was asked how many years of formal education he or she had completed (x) and his or her income (in $1000) for the previous 12 months (y). Summaries of a study conducted of n=150 people gave the following results (in $1000 s) : Ex=1976, Ey= 11719, SSxx=1657, SSyy=65247, SSxy=6857 a) Calculate the correlation coefficient (r) relating number of years of formal education and income. b) Find the regression line. c) Identify and interpret the slope in the context of the problem.

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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