Question: (a) I would like to know if there is a link between the level of annual income (Income) and the number of years our employees

(a) I would like to know if there is a link between the level of annual income ("Income") and the number of years our employees have worked since the age of 16 ("WorkYears"). Historically I suspect that the more years you worked, the higher your Income becomes, but in order to assist us with future budgeting, I'd like to know if this is still the case. Therefore, I'd like you to establish from your sample data if there is any relationship between these two variables.

Data

Income WorkYears
156.6 14
51.4 25
81 12
40.4 3
50.4 15
71.4 40
30 10
36 10
121.6 15
76.8 15
62 13
153.2 30
66.6 12
31.6 20
55 31
128.4 23
64 20
53.2 43
66.2 7
21 3
71.4 20
48.6 7
66.6 17
67.6 14
50.4 27
72.2 36
85.4 18
29.4 15
47.4 25
62.6 18
48.2 33
60.6 15
32.8 24
35.8 9
40.8 11
52.6 23
43.2 12
97.4 19
36.8 23
30.8 16
107.4 42
34 7
23 1
35.4 14
23.6 18
65.6 22
32.6 3
89.4 13
151.2 23
100.2 20
55.2 9
72.6 7
60.6 16
83 12
59.6 23
64.4 2
80.4 14
45 10
40.2 18
23.2 4
101.2 36
45 23
113.4 27
31 5
34 13
33 27
86.6 18
44 8
20.4 34
82.6 13
108.4 26
39.6 12
100 32
47.2 11
38.6 10
32 6
36.2 4
43.4 15
78 30
61.8 37
64.6 11
35.8 17
79.6 42
74.4 19
109.2 30
37.6 24
79.2 8
156 23
50.4 20
129 21
57.2 21
123.4 25
70.2 12
41.2 20
27.4 15
81.6 35
39.4 27
54.2 21
78.4 8
42.2 17
56.8 8
30 14
29.2 20
35.6 20
58.4 18
46 15
40 8
46.2 25
53.6 18
38.6 8
20.6 6
33.4 20
31.8 9
51.6 45
47.8 10
37.8 16
72.6 10
116 34
51.4 25
103.6 27
44.2 7
49.6 14
31.2 24
57 17
45 24
76.4 8
40 15
74.6 10
33.4 20
103.6 49
45.4 15
85 27
88.8 28
101 20
163.4 36
110.6 20
32.4 10
85.2 12
84.6 16
69.2 10
45 6
94.2 45
78.2 24
29.8 9
32 19
66.2 19
42.4 20
43.4 15
50.2 30
32.2 3
60.8 14
57.2 6
50.4 9
61.2 15
83 26
54 15
61.8 33
70.2 31
27.8 10
24.2 20
45.4 13
53.4 19
40 25
45.4 21
54.2 23
39.4 15
90.6 14
68 12
115.6 22
66.6 20
90.6 30
76.2 32
29.4 7
71 13
97.2 15
89.6 18
49.4 27
80.2 25
102.8 29
59.8 38
47.4 40
52.8 40
61.6 25
27.2 5
41 20
91.4 15
37.8 12
75.8 30
95.4 15
78 27
64.8 11
62.4 21
53.4 26
32.8 13
52.2 13
26.4 22
77.4 8
23.8 35
118.6 30
84.6 18
53.8 11
37.4 24
46 16
34.6 16
76.6 24
118.6 18
32.6 24
68.8 13
62.8 41
107.6 38
52.8 54
28.8 6
26.8 26
46.2 12
24 19
45.6 7
61.4 22
30.6 17
55.8 20
31 21
54.6 20
91.6 24
75.4 24
59 21
51.8 11
53.6 20
82.4 11
40.8 4
52 8
38 42
26.2 20
46.8 11
38.6 16
22.2 4
27.4 20
125.6 19
50.4 22
42.2 10
73.2 25
58.6 11
38.6 30
64.4 14
87.2 22
56.2 20
20.6 13
50 16
35.6 10
30.8 15
30.6 34
28.8 14
51.8 19
30 11
60.6 25
105.4 31
91.4 17
57.2 14
32.4 20
89.4 45
36.2 5
110 45
55 17
50.4 16
42.8 22
51 21
32.2 33
63.8 34
100.8 35
32.4 13
81.4 24
109.8 20
36.2 24
101.8 14
28.4 20
55.2 28
52.2 22
47.8 26
116 48
54 23
66 35
34.2 15
53.2 20
33.6 27
52 10
41.6 9
42.6 28
46.8 9
82.4 16
41.6 19
78.4 20
103.2 12
56.2 25
55 29
38 16
79.2 30
60.4 6
46.4 37
102.4 37
152.8 38
39 27
35.4 20
58.8 25
85.6 38
29.4 26
41 27
40.8 27
36.4 45
30.6 3
86.8 25
77 18
73.2 21
62.4 20
36.2 22
60.8 33
66.8 14
93.2 32
134 35
67.4 32
78.8 19
62.6 9
183.8 35
67.4 25
33.2 5
87.2 27
45 12
35.2 10
63.6 45
55.8 27
28.4 23
50 35
73.8 21
85.4 35
75.4 26
105.2 8
51.4 11
65 42
43.2 12
94.4 16
73.8 23
34.8 34
29.4 8
45.4 12
26.4 10
45 35
46.6 22
50.8 19
35.6 17
76.8 24
62.2 4
33 15
37.4 20
43.6 44
93.8 25
27.4 10
53.2 9
103.8 16
45 25
21.6 10
96.8 18
30 6
48.4 30
35 27
29.8 27
39.8 14
56 26
43.8 32
82.2 45
62.4 16
32.8 16
44 4
40.4 46
25.2 18
30.4 10
31.6 27
42.6 24
35.2 8
59.4 7
77 6
71.4 17
30.6 4
67.8 28
47.8 28
30.8 6
45.2 32
62.8 24
38.6 18
23.6 25
47.2 16
26.6 16
20.2 13
43.8 21
20.6 20
96.8 15
45 24
57.8 10
Income WorkYears
156.6 14
82.2 26
29 2
72.6 16
105.6 15

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!