Wageweb conducts surveys of salary data and presents summaries on its Web site. Based on salary data as of October 1, 2002, Wageweb reported that the average annual salary for sales vice presidents was $142,111, with an average annual bonus of $15,432 (Wageweb.com, March 13, 2003). Assume the following data are a sample of the annual salary and bonus for 10 sales vice presidents. Data are in thousands of dollars. Vice President12345678910Salary13511514616716517698136163119Bonus1214161922247171811 Develop a scatter diagram for these data with salary as the independent variable.What does the scatter diagram developed in part (a) indicate about the relationshipbetween salary and bonus?Use the least squares method to develop the estimated regression equation.Provide an interpretation for the slope of the estimated regression equation.Predict the bonus for a vice president with an annual salary of $120,000.

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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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Wageweb conducts surveys of salary data and presents summaries on its Web site. Based on salary data as of October 1, 2002, Wageweb reported that the average annual salary for sales vice presidents was $142,111, with an average annual bonus of $15,432 (Wageweb.com, March 13, 2003). Assume the following data are a sample of the annual salary and bonus for 10 sales vice presidents. Data are in thousands of dollars.

Vice President

Salary

135

115

146

167

165

176

136

163

119

Bonus

Develop a scatter diagram for these data with salary as the independent variable.
What does the scatter diagram developed in part (a) indicate about the relationship

between salary and bonus?