An Ardent Fan of Television Game Shows Has Observed That

question 1

Essay

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 favourite game show. She records their winnings in dollars and their years of education and performs a simple linear regression, with the Excel output provided . $$\begin{array} { | c | c | c | } \hline \text { Contestant } & \begin{array} { c } \text { Years of } \\\text { education }\end{array} & \text { Winnings } \\\hline 1 & 11 & 750 \\\hline 2 & 15 & 400 \\\hline 3 & 12 & 600 \\\hline 4 & 16 & 350 \\\hline 5 & 11 & 800 \\\hline 6 & 16 & 300 \\\hline 7 & 13 & 650 \\\hline 8 & 14 & 400 \\\hline\end{array}$$ a. Determine the least squares regression line.
b. Interpret the value of the slope of the regression line.
c. Determine the standard error of estimate, and describe what this statistic tells you about the regression line.
d. Interpret the coefficient of correlation

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Definitions:

Colour

The attribute of objects or light sources that can be perceived by the human eye and brain due to the way an object reflects or emits light.

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The notion in existentialism that individuals are entirely responsible for giving meaning to their lives and living them sincerely and authentically.

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Expectations or obligations that individuals believe they must adhere to, often leading to stress or disappointment when unmet.