Consider the Following to Answer the Question(s) Below

question 21

Essay

Consider the following to answer the question(s) below:
To determine whether the cash bonuses paid by Johnson Financial Group are related to annual pay, data were gathered for 10 account executives who received such bonuses in 2007. The data, scatterplot and summary statistics are shown below.

-Comment on whether each of the following conditions for correlation / linear regression is met.
a. Quantitative variable condition.
b. Linearity condition.
c. Outlier condition.

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Definitions:

Public Good

A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Nonrival

A characteristic of certain goods where consumption by one individual does not reduce the amount available for consumption by others.

Nonexclusive

A characteristic of a good or service that allows multiple users to use or consume it simultaneously without excluding others.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.