A Professor of Economics Wants to Study the Relationship Between

question 55

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. $$\begin{array} { | l | c | c | c | c | c | c | c | c | } \hline \text { Education } & 16 & 11 & 15 & 8 & 12 & 10 & 13 & 14 \\\hline \text { Income } & 58 & 40 & 55 & 35 & 43 & 41 & 52 & 49 \\\hline\end{array}$$ Conduct a test of the population coefficient of correlation to determine at the 5% significance level whether a linear relationship exists between years of education and income.

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Definitions:

Second Language

A language learned by a person after gaining fluency in their first language; also referred to as a target language or L2.

Adults

Individuals who have reached a stage of physical and psychological maturity, typically recognized by legal benchmarks of age.

Children

Young human beings who are not yet adults, often considered to be below the age of puberty.

Propositional Thought

A type of cognition that involves judgments, concepts, and ideas that can be expressed in sentences and propositions.