Question

In: Statistics and Probability

Below you are given information on annual income and years of college education. Income (In Thousands...

Below you are given information on annual income and years of college education.

Income (In Thousands of $)

Years of College

28

0

40

3

36

2

28

1

48

4

​

a. Develop the least squares regression equation.
b. Estimate the yearly income of an individual with 4 years of college education. Give your answer in dollars.
c. Compute the coefficient of determination.
d. Use a t test to determine whether the slope is significantly different from zero. Let α = .05.
e. At the .05 level of significance, perform an F test and determine whether or not the model is significant.

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