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What is the point estimate of the annual income of a salesperson with three years of college?  Test whether the number of years in college has a significant impact on income at α= .05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?  What is the value of the correlation coefficient between dependent variable and independent variable? What is the implication of the correlation coefficient? What is the R Square of this model? What does it mean? Use the information in ANOVA table to calculate R square.

What is the point estimate of the annual income of a salesperson with three years of college?  Test whether the number of years in college has a significant impact on income at α= .05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?  What is the value of the correlation coefficient between dependent variable and independent variable? What is the implication of the correlation coefficient? What is the R Square of this model? What does it mean? Use the information in ANOVA table to calculate R square.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter11: Data Analysis And Displays
Section11.4: Two-ways Tables
Problem 12E
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What is the point estimate of the annual income of a salesperson with three years of college? 

Test whether the number of years in college has a significant impact on income at α= .05. What are the hypotheses? How do you test the hypotheses? What is the conclusion? 

What is the value of the correlation coefficient between dependent variable and independent variable? What is the implication of the correlation coefficient?

What is the R Square of this model? What does it mean? Use the information in ANOVA table to calculate R square.

SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R S Standard Errc 0.818 0.668 0.627 6.348 Observations 10.000 ANOVA Significance F 0.004 df S MS F Regression 1.000 649.604 649.604 16.119 Residual 8.000 322.396 40.300 Total 9.000 972.000 Coefficients Standard Error t Stat P-value Lower 95% Lower 95.0% Upper 95.0% (9.355) Upper 95% Intercept 6.535 6.891 0.948 0.371 (9.355) 22.425 22.425 Years in Colle 8.020 1.998 4.015 0.004 3.414 12.626 3.414 12.626
Transcribed Image Text:SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R S Standard Errc 0.818 0.668 0.627 6.348 Observations 10.000 ANOVA Significance F 0.004 df S MS F Regression 1.000 649.604 649.604 16.119 Residual 8.000 322.396 40.300 Total 9.000 972.000 Coefficients Standard Error t Stat P-value Lower 95% Lower 95.0% Upper 95.0% (9.355) Upper 95% Intercept 6.535 6.891 0.948 0.371 (9.355) 22.425 22.425 Years in Colle 8.020 1.998 4.015 0.004 3.414 12.626 3.414 12.626
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