I am having to do a simple linear regression. I conducted a survey on 30 individuals. My Y was annual income and my X is number of years of education completed. After receiving the survey and data back, I completed the SLR. I put the number of years of education completed by how many years each person completed (12 years for high school and so on). The annual income I had a range 1-7. 1 being under 15,000-2 being 15,000-29,999 and so on.

First question, do you feel how I put the annual income range in excel would give me the correct correlation or should I ask the people their exact annual income?

Second question, the question came out as y = 0.0415x + 3.6839 R = 0.0042. Does this look correct and what does it mean?