The least-squares regression equation is y=663.3x + 16,436 where y is the median income and x is he percentage of 25 years and older with at least a bachelor's degree in the region. The scatter iagram indicates a linear relation between the two variables with a correlation coefficient of 7015. Complete parts (a) through (c). 550001 20000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % Q Q a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree 33,019 (Round to the nearest dollar as needed.) b) In a particular region, 25.5 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $36,619. Is this income higher than what you would e Why? This is higher than expected because the expected income is $ 33,350

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How do I get the answer (a) to (c)?

The least-squares regression equation is y = 663.3x + 16,436 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
0.7015. Complete parts (a) through (c).
2005
Median Income
This is higher than expected because the expected income is $ 33,350
(Round to the nearest dollar as needed.)
55000-
20000+
15 20 25 30 35 40 45 50 55 60
Bachelor's %
(a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree.
$ 33,019 (Round to the nearest dollar as needed.)
(b) In a particular region, 25.5 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $36,619. Is this income higher than what you would expect?
Why?
Q
(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.)
A. For 0% of adults having a bachelor's degree, the median income is predicted to be $
ⒸB. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ 663.30, on average.
OC. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is
%, on average.
OD. For a median income of $0, the percent of adults with a bachelor's degree is %.
Q
Transcribed Image Text:The least-squares regression equation is y = 663.3x + 16,436 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 0.7015. Complete parts (a) through (c). 2005 Median Income This is higher than expected because the expected income is $ 33,350 (Round to the nearest dollar as needed.) 55000- 20000+ 15 20 25 30 35 40 45 50 55 60 Bachelor's % (a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree. $ 33,019 (Round to the nearest dollar as needed.) (b) In a particular region, 25.5 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $36,619. Is this income higher than what you would expect? Why? Q (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.) A. For 0% of adults having a bachelor's degree, the median income is predicted to be $ ⒸB. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ 663.30, on average. OC. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average. OD. For a median income of $0, the percent of adults with a bachelor's degree is %. Q
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