In ongoing economic analyses, the U.S. federal government compares per capita in

Question

In ongoing economic analyses, the U.S. federal government compares per capita incomes not only among different states but also for the same state at different times. Typically, what the federal government finds is that "poor" states tend to stay poor and "wealthy" states tend to stay wealthy Would we have been able to predict the 1999 per capita income for a state (denoted by y) from its 1980 per capita income (denoted by x)? The following bivariate data give the per capita income (in thousands of dollars) for a sample of sixteen states in the years 1980 and 1999 (source: U.S. Bureau of Economic Analysis, Survey of Current Business, May 2000). The data are plotted in the scatter plot in Figure 1, and the least-squares regression line is drawn. The equation for this line Y^= 4.83 + 2.29x. Based on the above information, answer the following:

Explanation / Answer

from above given data

b1=Sxy/SSX =2.2927

bo=Ybar-Xbar*b1=4.8274

hence 1) that are greater then the mean ( would be better if you revert with option)

2) 2.2927

3)observed value =29.8

4) predicted value =2.2927*12+4.8274 =32.34

pls revert

x y (X-Xbar)^2 (Y-Ybar)^2 (X-Xbar)(Y-Ybar) Yi' (Y-Yi')^2 10.30 30.600 0.35 12.38 -59.05 28.44256 4.65455303 10.90 30.300 1.43 10.36 -52.08 29.8182 0.2321342 8.50 23.400 1.46 13.55 68.40 24.31564 0.83840382 8.20 26.200 2.27 0.78 16.64 23.62782 6.6160852 10.80 31.700 1.20 21.33 -75.20 29.58892 4.45664234 9.40 26.200 0.09 0.78 15.58 26.3791 0.03207728 8.50 27.200 1.46 0.01 -2.21 24.31564 8.3195099 11.80 30.400 4.38 11.01 -50.71 31.88165 2.19529948 8.20 20.900 2.27 38.21 116.71 23.62782 7.44102821 10.40 27.800 0.48 0.52 -11.99 28.67183 0.76009056 12.00 29.800 5.26 7.39 -41.00 32.3402 6.45261802 8.20 23.200 2.27 15.06 73.28 23.62782 0.18303407 10.00 26.500 0.09 0.34 9.93 27.75474 1.57437136 7.90 22.900 3.26 17.48 80.20 22.94001 0.00160046 11.10 33.900 1.94 46.50 -108.97 30.27674 13.1279912 9.10 22.300 0.37 22.86 85.97 25.69128 11.5007949 Total 155.30 433.30 28.57 218.56 65.50 68.3862339 mean 9.71 27.08 SSx Ssy Sxy

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