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Consider annual salary as the Y variable and experience as

Consider annual salary as the Y variable and experience as the X variable.

a. Draw a scatterplot and describe the relationship.

b. Find the correlation coefficient.What does it tell you? Is it appropriate, compared to the scatterplot?

c. Find the least-squares regression line to predict Y from X and draw it on a scatterplot of the data.

d. Find the standard error of estimate. What does it tell you?

e. Find the standard error of the slope coefficient.

f. Find the 95% confidence interval for the slope coefficient.

g. Test at the 5% level to see if the slope is significantly different from 0. Interpret the result.

h. Test at the 1% level to see if the slope is significantly different from 0.

i. Test at the 5% level to see if the correlation coefficient is significantly different from 0.

a. Draw a scatterplot and describe the relationship.

b. Find the correlation coefficient.What does it tell you? Is it appropriate, compared to the scatterplot?

c. Find the least-squares regression line to predict Y from X and draw it on a scatterplot of the data.

d. Find the standard error of estimate. What does it tell you?

e. Find the standard error of the slope coefficient.

f. Find the 95% confidence interval for the slope coefficient.

g. Test at the 5% level to see if the slope is significantly different from 0. Interpret the result.

h. Test at the 1% level to see if the slope is significantly different from 0.

i. Test at the 5% level to see if the correlation coefficient is significantly different from 0.

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