4.2.13 Question Help The least-squares regression equation is y = 716.8x + 14,24

Question

4.2.13 Question Help The least-squares regression equation is y = 716.8x + 14,242 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7380. Complete parts (a) through (d). 55000 25000 15 20 25 30 35 40 45 50 55 60 Bachelor's % (a) Predict the median income of a region in which 30% of adults 25 years and older have at least a bachelor's degree. S» (Round to the nearest dollar as needed.)

Explanation / Answer

(a) given ycap= 716.8x+ 14,242

Therefore,

median income = 716.8 * 30 + 14,242

= $ 35,746.00

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