An economist is studying the job market in Denver area neighborhoods.
An economist is studying the job market in Denver area neighborhoods.
Let x represent the total number of jobs in a given neighborhood, and let y represent the number of entry-level jobs in the same neighborhood. A sample of six Denver neighborhoods gave the following information (units in hundreds of jobs).
x163048285025y246593
Complete parts (a) through (e), given Σx = 197, Σy = 29, Σx2 = 7369, Σy2 = 171, Σxy = 1105, and r ≈ 0.917.(a) Draw a scatter diagram displaying the data.
(b) Verify the given sums Σx, Σy, Σx2, Σy2, Σxy, and the value of the sample correlation coefficient r. (Round your value for r to three decimal places.)Σx =Σy =Σx2 =Σy2 =Σxy =r =
(c) Find x, and y. Then find the equation of the least-squares line = a + bx. (Round your answers for x and y to two decimal places. Round your answers for a and b to three decimal places.)x= y= = + x
(d) Graph the least-squares line. Be sure to plot the point (x, y) as a point on the line.
(e) Find the value of the coefficient of determination r2. What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares line? What percentage is unexplained? (Round your answer for r2 to three decimal places. Round your answers for the percentages to one decimal place.)r2 =explained %unexplained %
(f) For a neighborhood with x = 43 hundred jobs, how many are predicted to be entry level jobs? (Round your answer to two decimal places.)
hundred jobs