A Professor of Economics Wants to Study the Relationship Between

question 2

Short Answer

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. $$\begin{array} { | l | c | c | c | c | c | c | c | c | } \hline \text { Education } & 16 & 11 & 15 & 8 & 12 & 10 & 13 & 14 \\\hline \text { Income } & 58 & 40 & 55 & 35 & 43 & 41 & 52 & 49 \\\hline\end{array}$$ Determine the standard error of estimate, and describe what this statistic tells you about the regression line.

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Definitions:

Phonemes

The most basic sounds in any language that differentiate one word from another.

Words

are units of language, composed of one or more spoken sounds or their written representation, that function as a principal carrier of meaning.

Syntax

The arrangement of words and phrases to create well-formed sentences in a language.

Semantics

The branch of linguistics concerned with the meaning of words and language.