The data show the yearly income (in $1000) and age of a sample of seven individuals. Age Income (in $1000) 18 20 20 24 23 24 24 26 27 30 27 36 34 22 Compute the coefficient of determination. (round to 2 decimals). Complete the least squares estimated regression equation. (round numbers to 4 decimals). We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals) What is the p-value? (round to 4 decimals) At the 5% level of significance, determine the conclusion and if the model is significant.
The data show the yearly income (in $1000) and age of a sample of seven individuals. Age Income (in $1000) 18 20 20 24 23 24 24 26 27 30 27 36 34 22 Compute the coefficient of determination. (round to 2 decimals). Complete the least squares estimated regression equation. (round numbers to 4 decimals). We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals) What is the p-value? (round to 4 decimals) At the 5% level of significance, determine the conclusion and if the model is significant.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.6: Higher-degree Polynomials And Rational Functions
Problem 1E: A Dubious Model of Oil Prices The following table shows the prices of oil in U.S. dollars per...
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The data show the yearly income (in $1000) and age of a sample of seven individuals.
| Age | Income (in $1000) |
| 18 | 20 |
| 20 | 24 |
| 23 | 24 |
| 24 | 26 |
| 27 | 30 |
| 27 | 36 |
| 34 | 22 |
Compute the coefficient of determination. (round to 2 decimals).
Complete the least squares estimated regression equation. (round numbers to 4 decimals).
We would like to see if the slope is significant. Using a t test, what is the value of the test statistic? (round to 2 decimals)
What is the p-value? (round to 4 decimals)
At the 5% level of significance, determine the conclusion and if the model is significant.
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