The least-squares regression equation is y=649.1x + 16,025 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 0.7324. Complete parts (a) through (d). This is (Round to the nearest dollar as needed.) than expected because the expected income is S 55000- 20000- (a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree. $ (Round to the nearest dollar as needed.) (b) In a particular region, 25.4 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $35,740. Is this income higher than w you would expect? Why? 15 20 25 30 35 40 45 50 55 60 Bachelor's % (c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal. Do not round.)
The least-squares regression equation is y=649.1x + 16,025 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 0.7324. Complete parts (a) through (d). This is (Round to the nearest dollar as needed.) than expected because the expected income is S 55000- 20000- (a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree. $ (Round to the nearest dollar as needed.) (b) In a particular region, 25.4 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $35,740. Is this income higher than w you would expect? Why? 15 20 25 30 35 40 45 50 55 60 Bachelor's % (c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal. Do not round.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
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Transcribed Image Text:The least-squares regression equation is y = 649.1x + 16,025 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 0.7324. Complete parts (a) through (d).
C
This is
(Round to the nearest dollar as needed.)
than expected because the expected income is $
55000-
20000-
(a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree.
$ (Round to the nearest dollar as needed.)
(b) In a particular region, 25.4 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $35,740. Is this income higher than wh
you would expect? Why?
15 20 25 30 35 40 45 50 55 60
Bachelor's %
(c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice.
(Type an integer or decimal. Do not round.)
Transcribed Image Text:(c) Interpret the slope. Select the correct choice below and fill in the answer box to complete your choice.
(Type an integer or decimal. Do not round.)
O A. For a median income of $0, the percent of adults with a bachelor's degree is %.
O B. For 0% of adults having a bachelor's degree, the median income is predicted to be $
OC. For every percent increase in adults having at least a bachelor's degree, the median income increases by $
O D. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is
on average.
%, on average.
(d) Explain why it does not make sense to interpret the y-intercept. Choose the correct answer below.
O A. It does not make sense to interpret the y-intercept because a y-value of 0 is outside the scope of the model.
O B. It does not make sense to interpret the y-intercept because an x-value of 0 does not make sense.
O C. It does not make sense to interpret the y-intercept because a y-value of 0 does not make sense.
O D. It does not make sense to interpret the y-intercept because an x-value of 0 is outside the scope of the model.
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