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B. Which variable is the "dependent" variable?Median Age Median Incomec+1. Use regression analysis to determine the relationship between median income and...

Question

B. Which variable is the "dependent" variable?Median Age Median Incomec+1. Use regression analysis to determine the relationship between median income and median age (Round your answers to 2 decimal places )IncomeMedian Agec-2. Interpret the value of the slope in a simple regression equation: (Round your answers to 2 decimal places-)For each yearin age, the income increasesaverage

b. Which variable is the "dependent" variable? Median Age Median Income c+1. Use regression analysis to determine the relationship between median income and median age (Round your answers to 2 decimal places ) Income Median Age c-2. Interpret the value of the slope in a simple regression equation: (Round your answers to 2 decimal places-) For each year in age, the income increases average



Answers

The following table lists data on the median household income in the United States for selected years from 1989 through 2003. (Source: U.S. Census Bureau) $$\begin{array}{|c|c|c|} \hline \text { Year } & 1989 & 2000 & 2002 & 2003 \\ \hline \begin{array}{l} \text { Median Income } \\ \text { (in dollars) } \end{array} & 30,056 & 41,994 & 43,349 & 44,368 \\ \hline \end{array}$$ (a) What general trend do you notice? (b) Fit a linear function to this set of data, using the number of years since 1989 as the independent variable. (c) Use your function to predict the year in which the median salary will be $46,000.

So, looking at this graph of median income, we see that the maximum value occurs, um, in the air, 1999. Um, and then the minimum value occurs in 1993 andan. We're told that the the income was declining dirt between 2000 and 2002. Um, we want to know if it was declining more rapidly during the first or the second year of that period. So if we look, we see that the slope is steeper from 2000 to 2001 as opposed to ah, 4002. That means that it was declining more rapidly in 2001.

Were given a chart of the median US income over a number of years that's been adjusted for inflation. Um, I'm kind of just sketch that chart out here. So we go from 1990 to 2005, and then we have 40,000 to $48,000 for the medium household income. And so the first question they ask is, When was the medium income at its maximum value? But we could see that its maximum value is here. And if we look on the chart that occurs in 1999 and they ask us what that maximum value is, and we can kind of eyeball it here it's, It's over, it's over. 44 47,500 but less than 48,000. And I guess that's about $47,600. And then they asked us for what the With the minimum waas and the minimum occurs right here, of course. And that turns out to be 1993 and again eyeballing it over here. It's less than 42,000, but more than 41 1005 100 so it looked about $41,600 was about the rough estimate I got from the graph. And then I ask us, um, the median income was declining during the two years from 2000 to 2002. So, you know, roughly in this range here and basically declined like this. And then it declined like this. So you can see it actually declined mawr over a year in the first year from 2000 to 2001 than it did from 2001 to 2002. And you can show that by just kind of eyeballing the change it looked like from 4000 to 2001, it dropped about, um, about $1000 over that one year and then from 2000 and 1 to 2000 to it looks like it dropped about $500 over the year so that the rate of change was greater. Um, the rate of change was $1000 per year, uh, in the over the first years, and it was $500 per year over the second year. So the high the great of change, uh, was declining more rapidly over the over the first year

So the relation the correlation coefficient is .75 and the first three are no those statements cannot be justified, and D is yes that it can okay.

Given so much, doctor. But we're taking one to dr on. We can find the using of school are down when we don't People go through all the oh God, I hit So say this is x one y one x two on a wipe find the 1,000,000 is first I'm the radiant Grady in is against it slow. This is where toe y minus y one upon extra minus X y. So why to 29.5 minus Why 1 30.2 upon extra minus X one, then minus jewel. So we'll find here. This is acquittal minus 0.7 a point, then this article minus zero point geo. So So this is a radiant to find the equation used the slow point equation slope point equation, which is equal toe y minus y one equals m times X minus X one. So why minus? Why one? Why wouldn't it seems so. Why, when is 30 point This is a 30.2 M minus 0.7 on X minus. Excellent, magical in June. So why minus 30 point to educate him to play with this? Oh is equal to minus 0.7 x So why is goingto minus 0.7 x plus Cartier point toe? So this is our answer.


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