Applicants for a Particular Job, Which Involves Extensive Travel in Spanish

question 18

Essay

Applicants for a particular job, which involves extensive travel in Spanish speaking countries, must take a proficiency test in Spanish. The sample data below were obtained in a study of the relationship between the numbers of years applicants have studied Spanish (x)and their score on the test (y). $$\begin{array}{l} \begin{array} { c c c c c c c c c c c } \hline \mathrm { x } & 3 & 4 & 4 & 2 & 5 & 3 & 4 & 5 & 3 & 2 \\ \hline \mathrm { y } & 57 & 78 & 72 & 58 & 89 & 63 & 73 & 84 & 75 & 48 \\ \hline \end{array}\\ \hat { y } = 31.55 + 10.90 x \end{array}$$ A 99% confidence interval for the slope of the population regression line that relates test score to number of years of study is 5.05 to 16.75. Provide an interpretation of this confidence interval.

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Definitions:

Transaction

An exchange between a business and one or more external parties to a business or a measurable internal event such as the use of assets in operations.

Exchange

A marketplace where securities, commodities, derivatives and other financial instruments are traded.

Unearned Revenue

Money received by a company for goods or services that have yet to be delivered or performed.

Liability

Financial obligations or debts that a company owes to outside parties, which must be settled over time through the transfer of economic benefits.