Solved

Personal Debt According to the World Almanac and Book of Facts

question 246

Essay

Personal debt According to The World Almanac and Book of Facts 2004, the debt per capita
for the years 1990-2001 gives the following scatterplot: $Personal debt According to The World Almanac and Book of Facts 2004, the debt per capita for the years 1990-2001 gives the following scatterplot: Regression output gives the equation of the regression line as Debt = - 2,231,226 + 1128 (Year) with R ^ { 2 } = 98.8 \% . a. What is the response variable? b. What is the correlation coefficient r ? c. Explain in context what the slope of the line means. d. Explain in context what R ^ { 2 } = 98.8 \% means. e. You decide to take a look at a residuals plot before making any predictions. Based on the following residuals plot, does linear regression seem appropriate for these data? Explain.$

Regression output gives the equation of the regression line as
Debt $= - 2,231,226 + 1128$ (Year) with $R ^ { 2 } = 98.8 \%$ .
a. What is the response variable?
b. What is the correlation coefficient $r$ ?
c. Explain in context what the slope of the line means.
d. Explain in context what $R ^ { 2 } = 98.8 \%$ means.
e. You decide to take a look at a residuals plot before making any predictions. Based on the following residuals plot, does linear regression seem appropriate for these data?
Explain.
$Personal debt According to The World Almanac and Book of Facts 2004, the debt per capita for the years 1990-2001 gives the following scatterplot: Regression output gives the equation of the regression line as Debt = - 2,231,226 + 1128 (Year) with R ^ { 2 } = 98.8 \% . a. What is the response variable? b. What is the correlation coefficient r ? c. Explain in context what the slope of the line means. d. Explain in context what R ^ { 2 } = 98.8 \% means. e. You decide to take a look at a residuals plot before making any predictions. Based on the following residuals plot, does linear regression seem appropriate for these data? Explain.$

Definitions:

Multistage Sample

A sampling method involving multiple phases of selection, often used in large-scale surveys to efficiently gather data.

Stratified Sample

A sampling method used in research that involves dividing the population into distinct subgroups and selecting samples from each subgroup.

Media

Various platforms used for communication, including television, radio, newspapers, and the internet.

Scholarly Research

Systematic investigation into and study of materials and sources to establish facts and reach new conclusions in a particular field of study.