1:22KThe least-squares regression equation isy=745.9x+12,727 where y is the median income and x isthe percentage of 25 years and older with at least abachelor's degree in the region. The scatter diagramindicates a linear relation between the two variables witha correlation coefficient of 0.7779. Complete parts (a)through (d).This is higher than expected because the expected income is $to the nearest dollar as needed.)(Round|||C...=OMedian Income550001LTE + ... ...(a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree.$31375 (Round to the nearest dollar as needed.)(b) In a particular region, 29.7 percent of adults 25 years and older have at least a bachelor's degree. The medianincome in this region is $31,654. Is this income higher than what you would expect? Why?20000+39%15 20 25 30 35 40 45 50 55 60Bachelor'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.)OA. For every percent increase in adults having at least a bachelor's degree, the median income increases by $OB. For a median income of $0, the percent of adults with a bachelor's degree is %.OC. For 0% of adults having a bachelor's degree, the median income is predicted to be $D. For every dollar increase in median income, the percent of adults having at least a bachelor's degree istentson average.%, on average.

The given regression equation is y^=745.9x+12727.

Answered: The least-squares regression equation…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The least-squares regression equation is y=620.6x+16,624 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 0.7004. Predict the median income of a region in which 30% of adults 25 years and older have at least a bachelor's degree.
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Part C
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