The Following Data Shows the Yearly Income in $1,000) and Age

question 45

Essay

The following data shows the yearly income in $1,000) and age of a sample of seven individuals.
$\begin{array}{ll}\text { Income in } \$ 1,000 \text { ) }&\text { Age }\\20 & 18 \\24 & 20 \\24 & 23 \\25 & 34 \\26 & 24 \\27 & 27 \\34 & 77\end{array}$
a. Develop the least squares regression equation.
b. Estimate the yearly income of a 30-year-old individual.
c. Compute the coefficient of determination.
d. Use a t test to determine whether the slope is significantly different from zero. Let α = 0.05.
e. At 95% confidence, perform an F test and determine whether or not the model is significant.

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Definitions:

Role Diffusion

Erikson’s term for lack of clarity in one’s life roles (due to failure to develop ego identity).

Instrumental Competence

The ability of an individual to effectively use tools or methods to achieve desired outcomes or solve problems.

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The final phase of prenatal development, typically taking place from the ninth week of pregnancy until birth, during which significant growth and maturation of the fetus occur.

Prenatal Development

The process of growth and development within the womb, from conception to birth.