Game Winnings & Education

question 37

Essay

Game Winnings & Education
An ardent fan of television game shows has observed that,in general,the more educated the contestant,the less money he or she wins.To test her belief she gathers data about the last eight winners of her favorite game show.She records their winnings in dollars and the number of years of education.The results are as follows. ​ ​
-{Game Winnings & Education Narrative} Predict with 95% confidence the winnings of a contestant who has 15 years of education.

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Definitions:

Salaries and Wages Payable

Salaries and Wages Payable are liabilities on the balance sheet representing amounts owed to employees for work performed but not yet paid.

Mortgage Payable

A long-term liability account that records the amount owed on a property mortgage.

Current Assets

Items on a company's balance sheet anticipated to be cashed in, sold off, or utilized within the longer span of either one year or its operational cycle.

Current Liabilities

Obligations or debts that a company expects to settle within one year or within the normal operating cycle of the business.