A Professor of Economics Wants to Study the Relationship Between

question 60

Essay

A professor of economics wants to study the relationship between income y (in $1000s) and education x (in years). A random sample of eight individuals is taken and the results are shown below. $$\begin{array} { | l | c | c | c | c | c | c | c | c | } \hline \text { Education } & 16 & 11 & 15 & 8 & 12 & 10 & 13 & 14 \\\hline \text { Income } & 58 & 40 & 55 & 35 & 43 & 41 & 52 & 49 \\\hline\end{array}$$ Predict with 95% confidence the average income of all individuals with 10 years of education.

Differentiate ethical issues from legal issues in business practices.

Comprehend the role of ethical decision-making in the business context, including the beginning of the ethical decision-making process.

Understand the concept of conflicts of interest and their implication in the workplace.

Recognize the consequences of unethical behavior, such as workplace bullying and its side effects.