correlation: regression: a. very briefly interpret the estimated correlation coe
ID: 1174051 • Letter: C
Question
correlation:
regression:
a. very briefly interpret the estimated correlation coefficient...the direction and strength of the correlation
b. List and label the dependent variable and independent variable
c. based on regression resultd if a country's percent of population with at least high school diploma increases by 1 by how much and in one direction does a country's median income change?
d. what is the predicted medinc for a HS degree of 70%
e. what proportion of the variation in medinc is explained by our regression model explained by variation in HS degree?
medInc $ HS degree % med inc 1 HS degree % -0.033158666 1Explanation / Answer
a) multiple r is the correlation coefficient. It measures the degree of correlation between two variables. r with value 0.033 tells us that the relationship between medinc and HS degree is low and is on the positive side.
b) independent variable is HS degree and dependent variable is medinc.
c) HS degree has coefficient value of -49.414. therefore with percent of population with atleast high school diploma increases by 1 unit medinc decreases by 49.414 units.
d) when HS degree= 70
Medinc= 42273.3497 - 49.414226(70) = 38814.35388
e) r square is a measure of goodness of the model. Its value is 0.0010995. It means only 0.10995% of the variation in medinc is explained by variation in HS degree.
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