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Answer:
Step-by-step explanation:
We assume that th data is this one:
x: 50, 55, 50, 79, 44, 37, 70, 45, 49
y: 152, 48, 22, 35, 43, 171, 13, 185, 25
a) Compute the equation of the least-squares regression line. (Round your numerical values to five decimal places.)For this case we need to calculate the slope with the following formula:
Where:
So we can find the sums like this:
With these we can find the sums:
And the slope would be:
Nowe we can find the means for x and y like this:
And we can find the intercept using this:
So the line would be given by:
Answer:
-7/10
Explanation:
Given the expression
We can rewrite the expression as:
The number line showing the location of the two numbers is attached below. Therefore:
Answer:
The mean would be $322,343 and the median would be $196,723.
Step-by-step explanation:
Since the distribution of individual incomes is skewed to the right, it means that the distribution has a long right tail.
Drawing a distribution with this characteristic, we can see how the majority of the data falls into the left side of the graphic, meaning that a lot of people receive less income. Following this reasoning, the mean which is the amount of the data (in this case individual income) divided by the amount of people, would be the higher number, meaning that the few people who earn more money would influence in making this number higher.
Following this reasoning, the median (which is not influenced by this difference) would be the less high number.
