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MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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
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 %

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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