The least-squares regression equation is y = 602.1x + 17,023 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 0.6748. Complete parts (a) through (d). C Median Income 55000 25000+ 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. $ 32076 (Round to the nearest dollar as needed.) (b) In a particular region, 29.1 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $37,759. Is this income higher than what you would expect? Why? This is higher than expected because the expected income is $ 34544 (Round to the nearest dollar as needed.) (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.) O A. For 0% of adults having a bachelor's degree, the median income is predicted to be $ OB. For a median income of $0, the percent of adults with a bachelor's degree is %. OC. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average. OD. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ , on average.
The least-squares regression equation is y = 602.1x + 17,023 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 0.6748. Complete parts (a) through (d). C Median Income 55000 25000+ 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. $ 32076 (Round to the nearest dollar as needed.) (b) In a particular region, 29.1 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $37,759. Is this income higher than what you would expect? Why? This is higher than expected because the expected income is $ 34544 (Round to the nearest dollar as needed.) (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.) O A. For 0% of adults having a bachelor's degree, the median income is predicted to be $ OB. For a median income of $0, the percent of adults with a bachelor's degree is %. OC. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average. OD. For every percent increase in adults having at least a bachelor's degree, the median income increases by $ , on average.
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Transcribed Image Text:The least-squares regression equation is y = 602.1x + 17,023 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 0.6748. Complete parts (a) through (d).
C
Median Income
55000-
25000
●
(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.)
A. For 0% of adults having a bachelor's degree, the median income is predicted to be $
B. For a median income of $0, the percent of adults with a bachelor's degree is %.
O C. For every dollar increase in median income, the percent of adults having at least a bachelor's degree is %, on average.
OD. For every percent increase in adults having at least a bachelor's degree, the median income increases by $,
on average.
15 20 25 30 35 40 45 50 55 60
Bachelor's %
U
(a) Predict the median income of a region in which 25% of adults 25 years and older have at least a bachelor's degree.
$32076 (Round to the nearest dollar as needed.)
(b) In a particular region, 29.1 percent of adults 25 years and older have at least a bachelor's degree. The median income in this region is $37,759. Is this income higher than what you would expect? Why?
This is higher than expected because the expected income is $ 34544
(Round to the nearest dollar as needed.)
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