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.
Answer:
To graph (like the provided picture) you must understand y=mx+b. Your m would stand for your slope which you need to determine with rise over run. Rise over run can be done by finding a place where both the x and y values are lined up. (0,-2) can be used as an example from the picture. You then want to find the next point where the x and y values line up which (-2,1) can be used. Go up 3 units and go to the LEFT 2 times which makes this a negative run. The slope would then be represented as -3/2.
Your x value stands for your x-value moving up or down while you b value stands for your y-intercept which point (0,-2) is represented as. Y represents the y value after the equation is plugged in with x and solved.
Answer:
y=1/2x-2
Step-by-step explanation:
the line is at its y-intercept at (0,-2) letting you know that there will be a -2 after the X.
the line is going up 1 vertical box every 2 horizontal boxes letting you know that the slope is 1/2x
The line of best fit is like a slope. Slope is constant, so a hypothetical slope can help with predicting the future data of the graph.
