You Are Given The Following Sample Containing Households Income And Spending Data Assume The Distributions Are Bell Sh 1 (17.64 KiB) Viewed 91 times
You Are Given The Following Sample Containing Households Income And Spending Data Assume The Distributions Are Bell Sh 2 (24.51 KiB) Viewed 91 times
You are given the following sample containing households' income and spending data. Assume the distributions are bell shaped. Spending (in thousand $) Income (in thousand $) 5.9 6.4 4.2 4.9 5.4 5.9 6.0 7.3 4.5 5.5
d. What percentage of households had income between $4.18 and $7.82? e. Calculate sample covariance. Interpret the covariance. f. Calculate the sample correlation coefficient. Interpret the result. g. Calculate the least squares/regression slope and intercept using spending as the dependent (or y) variable. Interpret the results. By how much will spending increase if household income increases by two thousand dollars? Predict a household's spending if their income is 5.6 thousand dollars?
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