Essay
Below you are given information on annual income and years of college education.
a.Develop the least squares regression equation.
b.Estimate the yearly income of an individual with 6 years of college education.
c.Compute the coefficient of determination.
d.Use a t test to determine whether the slope is significantly different from zero. Let = 0.05.
e. At 95% confidence, perform an F test and determine whether or not the model is significant.
Correct Answer:
Verified
a.
= 25.6 + 5.2X
b.$56,800
c.0.939
d.t = ...View Answer
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Correct Answer:
Verified
= 25.6 + 5.2Xb.$56,800
c.0.939
d.t = ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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