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Author Question: The following data shows the yearly income (in $1,000) and age of a sample of seven ... (Read 57 times)

lol1012

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on: Mar 25, 2023

The following data shows the yearly income (in $1,000) and age of a sample of seven individuals.

Income (in $1,000)

Age

20

18

24

20

24

23

25

34

26

24

27

27

34

27


a.Develop the least squares regression equation.
b.Estimate the yearly income of a 30-year-old individual.
c.Compute the coefficient of determination.
d.Use a t test to determine whether the slope is significantly different from zero. Let α = 0.05.
e.At 95% confidence, perform an F test and determine whether or not the model is significant.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by lol1012 on Mar 25, 2023

Kevin5!

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Reply #1 on: Mar 25, 2023
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lol1012

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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