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5. (25 points) A random sample of seven households was obtained, and information on their income and food expenditures f
Posted: Wed May 11, 2022 12:47 pm
by answerhappygod
- 5 25 Points A Random Sample Of Seven Households Was Obtained And Information On Their Income And Food Expenditures F 1 (41.26 KiB) Viewed 26 times
5. (25 points) A random sample of seven households was obtained, and information on their income and food expenditures for the past month was collected. Consider the following computer output and scatterplot, with the least squares line (trend line) superimposed: The equation of the regression line is expenditures = 1.87 +0.202 income, r2=.859 10 Monthly Food Expenditures (in hundreds of dollar 10 15 20 25 30 Monthly Income (in hundreds of dollars) a. Describe the direction, strength, and form of the association. b. On the graph, identify the point which you think has the greatest monthly income. Explain. Label the point on the graph b. c. On the graph, identify the point which you think has the greatest (in absolute value) residual. Explain. Residual = Distance a point is from the regression line (trend line). Label the point on the graph c. d. Determine the value of the correlation coefficient between monthly income and monthly food expenditures. Hint: You are given a related value above.