3. The data file "Education" contains a random sample of 10 individuals. The variables included are annual income (measu

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3 The Data File Education Contains A Random Sample Of 10 Individuals The Variables Included Are Annual Income Measu 1 (416.23 KiB) Viewed 7 times

3. The data file "Education" contains a random sample of 10 individuals. The variables included are annual income (measured in thousands of dollars) and education level (measured in years). (a) Estimate a simple linear regression model in which income is the dependent variable and education is the independent variable. Write down your estimated regression equation. (b) Identify and interpret the constant. (c) Identify and internret the slope coefficient. File Preview (d) Construct and conduct an appropriate hypothesis test for determining whether the slope coefficient is "statistically significant." Use a 5% level of significance. Interpret your conclusion within the context of this problem. (e) Identify the 95% confidence interval for the slope coefficient. Interpret it within the context of this problem. (f) Construct one residual. catterplot of this data and include the regression line. Using this graph, illustrate
Income (1000s of $) 35 40 44 60 64 40 45 30 55 60 Education (Years) 16 14 16 16 20 15 17 15 17 12