a) Describe this scatterplot b) What ranges of incomes might we expect to see fo

Question

a) Describe this scatterplot

b) What ranges of incomes might we expect to see for a household that moved to NYC about 1950? What about 2000?

c) Add the best fit regression line to the scatterplot. Describe the linear trend.

d) Does the correlation value support what you see in your scatterplot? How?

e) Interpret the two values

f) Use your estimated line to predict the expected income for a household that moved to NYC in 1950. Similarly predict for a household that moved to NYC in 2000. Compare your predictions to your ranges in part (b).

g) Describe the fit of the smoothing curve to the data

(h) Do you think there is a relationship between the year moved to NYC and the household income? Why/why not?

Explanation / Answer

a)
There doesnt seem to be any relationship in the scatterplot as most of the points lie flat on the y axis , the same is confirmed with the correlation value of -0.010 , which is very close to zero indicating no correlation

b) we see that most of the point for 1950 are concentrated around 0.1M , hence we expect to see this value

for 2000 , this value is a little more than this and cpuld be around 0.2M (approx)

c)
The regression line is formed using the coefficients as

Y = 178196.53 -56.51*NYCMove

the trend is almost flat as we do not see an increase in NYCMove over years

d)

Y = 178196.53 -56.51*NYCMove

for every additonal year , we would expect the income to fall by 56.51 units

interecet is 178196.53 , this is the value when NYCMove is zero. However , this value doesnt make any business sense in the context of the problem

Please note that we can answer only 4 subparts of a question at a time , as per the answering guidelines

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.