1. An ardent fan of television game shows has observed that, in general, the more educated...

1. An ardent fan of television game shows has observed that, in general, the more educated the contestant, the less money he or she wins. To test her belief she gathers data about the last eight winners of her favorite game show. She records their winnings in dollars and the number of years of education. The results are as follows.

Contestant	Years of Education (X)	Winnings (y)
1	11	750
2	15	400
3	12	600
4	16	350
5	11	800
6	16	300
7	13	650
8	14	400

a) Determine the estimated regression line and standard error of estimate/regression line.

b) Determine the coefficient of determination and discuss what its value tells you about the two variables.

c) Calculate and interpret the Pearson correlation coefficient.

d) Conduct a test of the population coefficient of correlation to determine at the 5% significance level whether a negative linear relationship exists between years of education and TV game shows' winnings.

e) Conduct a test of the population slop to determine at the 5% significance level whether a negative linear relationship exists between years of education and TV game shows' winnings.

Expert Solution

orchestra answered 1 year ago

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