A Professor of Economics Wants to Study the Relationship Between

question 40

Essay

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. $$\begin{array} { | l | c | c | c | c | c | c | c | c | } \hline \text { Education } & 16 & 11 & 15 & 8 & 12 & 10 & 13 & 14 \\\hline \text { Income } & 58 & 40 & 55 & 35 & 43 & 41 & 52 & 49 \\\hline\end{array}$$ Interpret the value of the slope of the regression line.

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Definitions:

Neuroticism

A characteristic that represents a consistent inclination towards feeling negative or anxious emotions over an extended period.

Mental Health

A state of well-being in which an individual realizes his or her own abilities, can cope with normal stresses of life, can work productively, and is able to make a contribution to their community.

Physical Health

The overall condition of a person's body, including freedom from illness or injury and the ability to perform daily tasks without physical limitation.

Eysenck's Factors

A personality model proposing three dimensions of human personality: extraversion-introversion, neuroticism-stability, and psychoticism-superego.