An Ardent Fan of Television Game Shows Has Observed That

question 116

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. The results are as follows. $$\begin{array} { | c | c | c | } \hline \text { Contestant } & \begin{array} { c } \text { Years of } \\\text { education }\end{array} & \text { Winnings } \\\hline 1 & 11 & 750 \\\hline 2 & 15 & 400 \\\hline 3 & 12 & 600 \\\hline 4 & 16 & 350 \\\hline 5 & 11 & 800 \\\hline 6 & 16 & 300 \\\hline 7 & 13 & 650 \\\hline 8 & 14 & 400 \\\hline\end{array}$$ Compute the standardised residuals.

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Definitions:

Text Mining

The process of deriving high-quality information from text through the identification of patterns and trends via means such as statistical pattern learning.

Extract Insights

The process of analyzing data or information to discover significant patterns, trends, or understandings.

Transitions

Processes or periods of changing from one state or condition to another, often requiring adaptation or adjustment.

Comparison

A process of evaluating two or more items to establish their similarities or differences.