An Ardent Fan of Television Game Shows Has Observed That

question 15

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. $$\begin{array} { | c | c | c | } \hline \text { Contestant } & \begin{array} { c } \text { Years of } \\\text { education }\end{array} & \text { Winnings } \\\hline 1 & 11 & 750 \\\hline 2 & 15 & 400 \\\hline 3 & 12 & 600 \\\hline 4 & 16 & 350 \\\hline 5 & 11 & 800 \\\hline 6 & 16 & 300 \\\hline 7 & 13 & 650 \\\hline 8 & 14 & 400 \\\hline\end{array}$$ Predict with 95% the winnings of all contestants who have 15 years of education.

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Definitions:

Compensation System

An organized approach utilized by companies to pay and reward employees for their contributions, including salary, wages, bonuses, and benefits.

Directly Related

Having a direct connection or relevance to the matter at hand, often used to describe the relationship between work tasks and job requirements.

Compensation Administration

The process and policies involved in determining, distributing, and managing the compensation of employees within an organization.

Necessary Information

The crucial data or knowledge required to perform a task, make a decision, or understand a situation.