Assess fit of the regression line in Exercise 16.14.
Answer to relevant QuestionsRefer to Exercise 16.15.a. Determine the coefficient of determination and describe what it tells you.b. Conduct a test to determine whether there is evidence of a linear relationship between house-hold income and food budget.Repeat Exercise 16.6 using the t-test of the coefficient of correlation. Is this result identical to the one you produced in Exercise 16.6?Do more affluent people get their news from radio? Answer the question by conducting an analysis of the relationship between income (INCOME) and time listening to news on the radio (TIME4).Are more educated (EDUC) people more likely to support government action to reduce income differences across the country differences (EQWLTH: 1 = Government should reduce income differences; 2, 3, 4, 5, 6, 7 = No government ...Use the regression equation in Exercise 16.2 to predict with 90% confidence the sales when the advertising budget is $80,000.
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