Concept explainers
To calculate: The proportion of variation in unemployment explained by inflation.
Answer to Problem 5CS
The proportion of the variation in unemployment is explained by inflation is
Explanation of Solution
Given information:
The below table presents the inflation rate and unemployment rate, both in percent, for the year
Concept Used:
The
The coefficient of variation is denoted by
Where,
Calculation:
Here,
Calculation:
In regression, the coefficient of determination explains the proportion of variation in the dependent variable.
It was calculated that the coefficient of determination
Therefore the proportion of the variation in unemployment is explained by inflation is
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Chapter 4 Solutions
Elementary Statistics ( 3rd International Edition ) Isbn:9781260092561
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