- 2 You Are Given The Following Sample Containing Households Income And Spending Data Assume The Distributions Are Bell 1 (55.6 KiB) Viewed 129 times
2. You are given the following sample containing households' income and spending data. Assume the distributions are bell
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2. You are given the following sample containing households' income and spending data. Assume the distributions are bell
2. 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 a. Calculate the sample variance and sample standard deviation for both spending and income. b. For the first person/observation in the sample, find the number of standard deviations that spending and income are from their means. c. Find the values of spending for which sixty-eight percent of all the values of lie between. 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. 8. 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?