Detailed explanation to correlation analysis

Reference no: EM1396526

The following data refers to gross earned income, in thousands of dollars per year, and level of taxation on that income. Determine whether a relation exists between these two factors, and if so its strength, then predict how much tax any other
individual would have to pay in this mythical society.

INCOME 7 9 10 13 18 18 20 24 36 45

% TAX 2 4 4 7 10 13 15 12 13 20

Reference no: EM1396526

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