A Professor of Economics Wants to Study the Relationship Between

question 68

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. $$\begin{array} { | l | c | c | c | c | c | c | c | c | } \hline \text { Education } & 16 & 11 & 15 & 8 & 12 & 10 & 13 & 14 \\\hline \text { Income } & 58 & 40 & 55 & 35 & 43 & 41 & 52 & 49 \\\hline\end{array}$$ Identify possible outliers.

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Definitions:

Curiosity

A strong desire to learn or know about something.

Control

The ability to direct, influence, or regulate the behavior of others or the course of events.

Narrative Competence

The ability to understand, interpret, and create stories and narratives, which is essential for effective communication and understanding in various contexts.

Understanding the Story

The process of comprehending the narrative, themes, and contexts within a piece of literature or situation.