The following table shows the average annual income in a certain country, adjusted for inflation, for the given year. t years since 1980 I annual income 0 $23,109 5 $23,216 10 $25,384 15 $26,694 20 $30,719 25 30 $30,450 $28,738 (a) Find the equation of the regression line. (Round regression line parameters to two decimal places.) I(t)- (b) Plot the data along with the regression line. 40 000 30 000 20 000 10 000 40 000 40 000 40 000 30 000 30 000 30 000 20 000 10000 t 10 20 30 40 50 10 20 30 40 50 20000 10000 20 000 10000 10 20 30 40 50 10 20 30 40 50 (c) Explain in practical terms the meaning of the slope of the regression equation. (Round your answers to two decimal places.) The slope of the regression line is dollars per year. The slope means that, from 1980 on, the average annual income (adjusted for inflation) grew by $ each year. (d) During which year since 1990 was income much lower than would be expected from the regression model?
The following table shows the average annual income in a certain country, adjusted for inflation, for the given year. t years since 1980 I annual income 0 $23,109 5 $23,216 10 $25,384 15 $26,694 20 $30,719 25 30 $30,450 $28,738 (a) Find the equation of the regression line. (Round regression line parameters to two decimal places.) I(t)- (b) Plot the data along with the regression line. 40 000 30 000 20 000 10 000 40 000 40 000 40 000 30 000 30 000 30 000 20 000 10000 t 10 20 30 40 50 10 20 30 40 50 20000 10000 20 000 10000 10 20 30 40 50 10 20 30 40 50 (c) Explain in practical terms the meaning of the slope of the regression equation. (Round your answers to two decimal places.) The slope of the regression line is dollars per year. The slope means that, from 1980 on, the average annual income (adjusted for inflation) grew by $ each year. (d) During which year since 1990 was income much lower than would be expected from the regression model?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
I need all answers typing
Transcribed Image Text:The following table shows the average annual Income in a certain country, adjusted for inflation, for the given year.
t years since 1980 I annual income
0
$23,109
5
$23,216
10
$25,384
15
$26,694
20
$30,719
$30,450
$28,738
25
30
(a) Find the equation of the regression line. (Round regression line parameters to two decimal places.)
I(t)=
(b) Plot the data along with the regression line.
I
40 000
30 000
20 000
10 000
10
20
30
40
50
I
40 000
40 000
40 000
30 000
30 000
30 000
20 000
10000
20000
10000
20 000
10000
10
20
30
40
50 O
10
20
30
40
50
10
20
30
40
50
(c) Explain in practical terms the meaning of the slope of the regression equation. (Round your answers to two decimal places.)
The slope of the regression line is
dollars per year. The slope means that, from 1980 on, the average annual income (adjusted for inflation) grew by $
each year.
(d) During which year since 1990 was income much lower than would be expected from the regression model?
O 1995
© 2000
O 2005
2010
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 19 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman