An economist is studying the job market in Denver area neighborhoods. Let x represent the total number of jobs in a given neighborhood, and let y represent the number of entry-level jobs in the same neighborhood. A sample of six Denver neighborhoods gave the following information (units in hundreds of jobs).  given Σx = 196, Σy = 27, Σx2 = 7478, Σy2 = 161, Σxy = 1068, and r ≈ 0.9025.   x 13 30 50 28 50 25 y 1 3 6 5 9 3   Find x, and y. Then find the equation of the least-squares line  ŷ = a + bx. (Round your answers to four decimal places.) x=___ y=____ ŷ=___ +___  x   Graph the least-squares line. Be sure to plot the point (x, y) as a point on the line.   Find the value of the coefficient of determination r2. What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares line? What percentage is unexplained? (Round your answer for r2 to four decimal places. Round your answers for the percentages to two decimal place.) r2=___ explained____ % unexplained____ %   For a neighborhood with x = 37 hundred jobs, how many are predicted to be entry level jobs? (Round your answer to two decimal places.) ___ hundred jobs

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.