The least-squares regression equation is y = 650.9x+ 16,443 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7174. Complete parts (a) through (d). 55000 25000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % .... (a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. (Round to the nearest dollar as needed.) Median Income of
The least-squares regression equation is y = 650.9x+ 16,443 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7174. Complete parts (a) through (d). 55000 25000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % .... (a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree. (Round to the nearest dollar as needed.) Median Income of
MATLAB: An Introduction with Applications
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Question
![The least-squares regression equation is y = 650.9x + 16,443 where y
is the median income and x is the percentage of 25 years and older
with at least a bachelor's degree in the region. The scatter diagram
55000-
indicates a linear relation between the two variables with a correlation
coefficient of 0.7174. Complete parts (a) through (d).
25000-
15 20 25 30 35 40 45 50 55 60
Bachelor's %
.....
(a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree.
(Round to the nearest dollar as needed.)
Median Income](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35631dc0-b61f-4d12-ae53-51be1c4b5131%2F6f42a3da-c453-4302-a83e-26611da244e4%2F7d4r3n_processed.png&w=3840&q=75)
Transcribed Image Text:The least-squares regression equation is y = 650.9x + 16,443 where y
is the median income and x is the percentage of 25 years and older
with at least a bachelor's degree in the region. The scatter diagram
55000-
indicates a linear relation between the two variables with a correlation
coefficient of 0.7174. Complete parts (a) through (d).
25000-
15 20 25 30 35 40 45 50 55 60
Bachelor's %
.....
(a) Predict the median income of a region in which 20% of adults 25 years and older have at least a bachelor's degree.
(Round to the nearest dollar as needed.)
Median Income
Expert Solution
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Step 1
Regression equation is used to relate the response variable with the explanatory variable. There are different kind of regression equations such as simple linear, polynomial, exponential, logarithmic etcetera.
The simple linear regression equation uses a straight line to relate the response variable with explanatory variable. If explanatory variable is x and response variable is y then the simple linear equation is written as .
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