Social researchers are interested in the relationship between income and happiness. You survey 500 people whose...
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Social researchers are interested in the relationship between income and happiness. You survey 500 people whose incomes range from $15,000 to $75,000 and ask them to rank their happiness. Income (x) is in $10,000 units and happiness(y) is on the scale of 1 to 10. You generate the following statistics using the survey data and they are shown below. y = 0.7138(x) + 0.2043 Correlation coefficient = .8656 Coefficient of Determination = 0.7493 1. Is income a good indicator of happiness? Explain. (2 points) 2. Tell me three more things about the relationship between income and happiness, using the statistics noted above. (3 points) LICE Standard Error of Estimate = 6.503 Social researchers are interested in the relationship between income and happiness. You survey 500 people whose incomes range from $15,000 to $75,000 and ask them to rank their happiness. Income (x) is in $10,000 units and happiness(y) is on the scale of 1 to 10. You generate the following statistics using the survey data and they are shown below. y = 0.7138(x) + 0.2043 Correlation coefficient = .8656 Coefficient of Determination = 0.7493 1. Is income a good indicator of happiness? Explain. (2 points) 2. Tell me three more things about the relationship between income and happiness, using the statistics noted above. (3 points) LICE Standard Error of Estimate = 6.503
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Research Methods For Business Students
ISBN: 9781292208787
8th Edition
Authors: Mark Saunders, Philip Lewis, Adrian Thornhill
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