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 income0$23,0095$23,01610$25,28415$26.49420$30,81925$30,35030$28,738(a) Find the equation of the regression line. (Round regression line parameters to two decimal places.)I(t) = 62.48t+22810 x>(b) Plot the data along with the regression line.

The data for average annual income is given below:

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 $23,009 5 $23,016 10 15 20 25 30 $25,284 $26.494 $30,819 $30,350 $28,738 (a) Find the equation of the regression line. (Round regression line parameters to two decimal places.) I(t) = 62.48t + 22810 x (b) Plot the data along with the regression line.

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 $23,009 5 $23,016 10 15 20 25 30 $25,284 $26.494 $30,819 $30,350 $28,738 (a) Find the equation of the regression line. (Round regression line parameters to two decimal places.) I(t) = 62.48t + 22810 x (b) Plot the data along with the regression line.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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