The data in Table 1 reports the aggregate consumption (Y, in billions) and disposable income (X, in billions) for the prosperous land of Kumandra. Draw a scatter diagram for the data and determine by inspection if there exists an approximate linear relationship between Y and X. Approximately draw a straight-line between the plotted values. Can we use this data for a linear regression model? Why?

The data in Table 1 reports the aggregate consumption (Y, in billions) and disposable income (X, in billions) for the prosperous land of Kumandra. Draw a scatter diagram for the data and determine by inspection if there exists an approximate linear relationship between Y and X. Approximately draw a straight-line between the plotted values. Can we use this data for a linear regression model? Why?

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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