An ardent fan of television game shows has observed that, in general, the more educated the contestant, the less money h

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An Ardent Fan Of Television Game Shows Has Observed That In General The More Educated The Contestant The Less Money H 1 (67.88 KiB) Viewed 239 times

An ardent fan of television game shows has observed that, in general, the more educated the contestant, the less money he or she wins. To test her belief, she gathers data about the last eight winners of her favourite game show. She records their winnings in dollars and their years of education and performs a simple linear regression, with the Excel output provided. Contestant Years of Winnings education 1 11 750 2 15 400 3 12 600 4 16 350 5 11 800 6 16 300 7 13 650 8 14 400 SUMMARY OUTPUT Regression Statistics Multiple R 0.9583798 R Square 0.9184918 Adjusted R Square 0.9049071 Standard Error 59.395099 Observations 8 ANOVA df SS MS F Significance F 238520.867.61220470.00017466 3527.778 1 Regression Residual 238520.8333 21166.66667 6 Total 7 259687.5 Standard Error Star Coefficients 1735 Upper P-value Lower 95% 95% 11.73149 2.3148E-051373.119842096.8802 147.8926037 Intercept Years of education -89.16667 10.84401183 -8.2226640.00017466-115.70101-62.63233 • a. Determine the least squares regression line. . b. Interpret the value of the slope of the regression line. • c. Determine the standard error of estimate and describe what this statistic tells you about the regression line. . d. Interpret the coefficient of correlation