In a Study of the Factors That Affect Success in Economics,data

question 14

Essay

In a study of the factors that affect success in economics,data were collected for 8 business students.Scores on a calculus placement test are given with economics final exam scores.The data are below:
$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Calculus } \\\text { Placement Score }\end{array} & \begin{array} { l } \text { Exam Final } \\\text { Score }\end{array} \\\hline 17 & 73 \\\hline 21 & 66 \\\hline 11 & 64 \\\hline 16 & 61 \\\hline 15 & 70 \\\hline 11 & 71 \\\hline 24 & 90 \\\hline 27 & 68 \\\hline\end{array}$
It can be shown that for these data: $\bar{X}=17.75, \quad \bar{y}=70.38, \quad \sum_{i=1}^{8}\left(x_{i}-\bar{x}\right)^{2}=237.50$
$\sum_{i=1}^{8}\left(y_{i}-\bar{y}\right)^{2}=545.875, \quad \sum_{i=1}^{8}\left(x_{i}-\bar{x}\right)\left(y_{i}-\bar{y}\right)=140.75$
Calculate b₁.

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Definitions:

Persuasive Authority

References or citations that a court may consider in making its decision but is not obliged to follow because they come from a different jurisdiction or are secondary sources.

Sixth Circuit

A federal judicial circuit in the United States that encompasses parts of the Midwest, including Kentucky, Michigan, Ohio, and Tennessee.

Eighth Circuit

Refers to the United States Court of Appeals for the Eighth Circuit, a federal court with appellate jurisdiction over the district courts in certain Midwestern and Southern states.

Case on All Fours

Describes a case with factual and legal circumstances so similar to a case at hand that its precedent is considered highly persuasive.