The variables annual savings and annual income have been analyzed in a sample of families in...

The variables annual savings and annual income have been analyzed in a sample of families in a community, both measured in thousands of dollars. The data obtained has been the following:

Savings 1.9, 1.8, 2.0, 2.1, 2.3, 2.0, 2.2, 2.3, 2.5, 2.4

Income 20.5, 20.8, 21.2, 21.7, 22.1, 22.3, 22.2, 22.6, 23.1, 23.5

1) Obtain the adjusted model that explains saving as a function of income: saving = f (income).

2) Interpret the regression coefficient

3) Interpret the coefficient of determination

Expert Solution

orchestra answered 2 years ago

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