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The least-squares regression equation is y=745.9x + 12,727 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 0.7779. Complete parts (a) through (d). Median Income This is higher than expected because the expected income is $ (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. $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 median income in this region is $31,654. Is this income higher than what you would expect? Why?

The least-squares regression equation is y=745.9x + 12,727 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 0.7779. Complete parts (a) through (d). Median Income This is higher than expected because the expected income is $ (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. $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 median income in this region is $31,654. Is this income higher than what you would expect? Why?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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1:22 K The least-squares regression equation is y=745.9x+12,727 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 0.7779. Complete parts (a) through (d). This is higher than expected because the expected income is $ to the nearest dollar as needed.) (Round ||| C... = O Median Income 55000 1 LTE + ... ... (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 median income 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 60 Bachelor's %
Transcribed Image Text:1:22 K The least-squares regression equation is y=745.9x+12,727 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 0.7779. Complete parts (a) through (d). This is higher than expected because the expected income is $ to the nearest dollar as needed.) (Round ||| C... = O Median Income 55000 1 LTE + ... ... (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 median income 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 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.) 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 is tents on average. %, on average.
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.) 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 is tents on average. %, on average.
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