The data show the yearly income (in $1000) and age of a sample of seven individuals. Age Income (in $1000) 18 20 20 24 23 24 24 26 27 30 27 36 34 22 Compute the coefficient of determination. (round to 2 decimals). Complete the least squares estimated regression equation. (round numbers to 4 decimals). We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals) What is the p-value? (round to 4 decimals) At the 5% level of significance, determine the conclusion and if the model is significant.
The data show the yearly income (in $1000) and age of a sample of seven individuals. Age Income (in $1000) 18 20 20 24 23 24 24 26 27 30 27 36 34 22 Compute the coefficient of determination. (round to 2 decimals). Complete the least squares estimated regression equation. (round numbers to 4 decimals). We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals) What is the p-value? (round to 4 decimals) At the 5% level of significance, determine the conclusion and if the model is significant.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 22PFA
Related questions
Question
The data show the yearly income (in $1000) and age of a sample of seven individuals.
| Age | Income (in $1000) |
| 18 | 20 |
| 20 | 24 |
| 23 | 24 |
| 24 | 26 |
| 27 | 30 |
| 27 | 36 |
| 34 | 22 |
Compute the coefficient of determination. (round to 2 decimals).
Complete the least squares estimated regression equation. (round numbers to 4 decimals).
We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals)
What is the p-value? (round to 4 decimals)
At the 5% level of significance, determine the conclusion and if the model is significant.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning