For the data of Problem 13.85, repeat (a) through (g), using Age as the independent variable.
In problem 13.85
a. Construct a scatter plot, using sales as the dependent variable and median family income as the independent variable. Discuss the scatter plot.
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b0 and b1.
c. Interpret the meaning of the Y intercept, b0, and the slope, , in this problem.
d. Compute the coefficient of determination, r2, and interpret its meaning.
e. Perform a residual analysis on your results and determine the adequacy of the fit of the model.
f. At the 0.05 level of significance, is there evidence of a linear relationship between the independent variable and the dependent variable?
g. Construct a 95% confidence interval estimate of the population slope and interpret its meaning.