The Following Data Shows the Yearly Income (In $1,000)and Age $\alpha$

question 30

Essay

The following data shows the yearly income (in $1,000)and age of a sample of seven individuals.

a.Develop the least squares regression equation.
b.Estimate the yearly income of a 30-year-old individual.
c.Compute the coefficient of determination.
d.Use a t test to determine whether the slope is significantly different from zero.Let $\alpha$ = 0.05.
e.At 95% confidence,perform an F test and determine whether or not the model is significant.

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Definitions:

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