The least-squares regression equation is ModifyingAbove y with caretyequals=659.8659.8xplus+15 comma 67315,673 where y is the median income
The least-squares regression equation is ModifyingAbove y with caretyequals=659.8659.8xplus+15 comma 67315,673 where y is the median income and x is the percentage of 25 years and older with at least a bachelor’s degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.70560.7056. Complete parts (a) through (d).
A scatter diagram has a horizontal axis labeled Bachelor’s % from 15 to 60 in increments of 5 and a vertical axis labeled Median Income from 20000 to 55000 in increments of 5000. Points are scattered around a line that rises from left to right and has a slope of about 700.
(a) Predict the median income of a region in which 3030% of adults 25 years and older have at least a bachelor’s degree.
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