A professor of economics wants to study the relationship between income (y in $1000s) and education (x in years). A random sample eight individuals is taken and the results are shown below. r = ______________ Describe what this statistic tells you about the regression line. ____________________________ Determine the coefficient of determination. R 2 = ______________ Discuss what its value tells you about the two variables. ________________________________________________________ Calculate the Pearson correlation coefficient. r = ______________ Why does it have the sign it has? ________________________________________________________ Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income. Test statistic: t = ______________ Rejection Region: Reject H 0 if | t | ______________ Conclusion: ______________ A linear relationship ______________ between years of education and income. class=answers-bank-image d-block rel=preload Determine the standard error of estimate.s r = ______________Describe what this statistic tells you about the regression line.____________________________Determine the coefficient of determination.R 2 = ______________Discuss what its value tells you about the two variables.________________________________________________________Calculate the Pearson correlation coefficient.r = ______________Why does it have the sign it has?________________________________________________________Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income.Test statistic:t = ______________Rejection Region:Reject H 0 if | t | ______________Conclusion:______________A linear relationship ______________ between years of education and income.

Question

A professor of economics wants to study the relationship between income (y in $1000s) and education (x in years). A random sample eight individuals is taken and the results are shown below.  r  = ______________ Describe what this statistic tells you about the regression line. ____________________________ Determine the coefficient of determination. R 2  = ______________ Discuss what its value tells you about the two variables. ________________________________________________________ Calculate the Pearson correlation coefficient. r = ______________ Why does it have the sign it has? ________________________________________________________ Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income. Test statistic: t = ______________ Rejection Region: Reject H 0  if | t | > ______________ Conclusion: ______________ A linear relationship ______________ between years of education and income. class=answers-bank-image d-block rel=preload > Determine the standard error of estimate.s r  = ______________Describe what this statistic tells you about the regression line.____________________________Determine the coefficient of determination.R 2  = ______________Discuss what its value tells you about the two variables.________________________________________________________Calculate the Pearson correlation coefficient.r = ______________Why does it have the sign it has?________________________________________________________Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income.Test statistic:t = ______________Rejection Region:Reject H 0  if | t | > ______________Conclusion:______________A linear relationship ______________ between years of education and income.

Cristel Salas · Accepted Answer

Final Answer : 2.436; The model's fit to these data is good.; 0.9223; 92.03% of the variation in income is explained by the variation in years of education.; 0.9604; It has a positive sign since the slope of the regression line ( = 2.9098) is positive.; 8.437; 2.447; Reject the null hypothesis; exists

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