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Use the data in the table, which shows the personal income and outlays (both in trillions of dollars) for Americans for 11 recent years. (Source: U.S. Commerce Department, Bureau of Economic Analysis)Personal income, x Personal outlays, y5.6 4.65.8 4.96.2 5.26.5 5.56.9 5.87.4 6.17.8 6.58.4 7.08.7 7.38.9 7.79.2 8.0
1. Construct a scatter plot for the data. Do the data appear to have a positive linear correlation, a negative linear correlation, or no linear correlation? Explain.2. Calculate the correlation coefficient r. What can you conclude?3. Test the level of significance of the correlation coefficient r. Use a = 0.05.4. Find the equation of the regression line for the data. Include the regression line in the scatter plot.5. Use the regression line to predict the personal outlays when the personal income is 5.3 trillion dollars.6. Find the coefficient of determination and interpret the results.7. Find the standard error of estimate and interpret the results.8. Construct a 95% prediction interval for personal outlays when personal income is 6.4 trillion dollars. Interpret the results.
Assume that cans of Coke are filled so that the actual amounts have a mean of 12.00 oz and a stand. dev. of 0.11 oz. Find the P that a sample of 36 cans will have a mean amount of at least 12.19 oz.
Could mud-wrestling be the cause of a rash contracted by University of Washington students in the spring of 1992? Two physicians at the University of Washington health center wondered this when one male and six female students complained of rashes..
Compute the following: (Round the value for standard deviation and intermediate calculations to 2 decimal places and your final answer to 4 decimal places.)
He would like to determine whether there are more units produced on the afternoon shift than on the day shift.
Using the five steps of hypothesis testing and the 5% significance level (alpha), does showing the film change students' attitudes towards the chronically mentally ill?
Four research participants take a test of mannual dexterity (high scores mean better dexterity) and anxiety test (high scores mean more anxiety). Scores are as follows:
Since 38% is less than 40%, does this mean that immediate production cutbacks are needed or can this difference of 2 percentage points be attributed to sampling?
What is the probability that both defective lights will be found within three trials?
To obtain the probability that the mean wage of 75 randomly selected workers will exceed $43,000
Calculate the total cost of interest for both mortgage options. How much does the buyer save in interest with the 20 year option ?
In a poll of 1,004 adults, 93% indicated that restaurants and bars should refuse service to patrons who have had too much to drink. Construct the 90% confidence interval for the proportion of all adults who feel the identical way.
The correlation between hours spent in the course and exam grades is .8. what percent f variation in exam grades can be explained by hours spent in the course?
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