Question: The FL Crime data file on the text CD contains data for all counties in Florida on y = median annual income (thousands of dollars)

The FL Crime data file on the text CD contains data for all counties in Florida on y = median annual income (thousands of dollars) for residents of the county and x = percent of residents with at least a high school education. The table shows some summary statistics and results of a regression analysis.

a. Find the correlation r. Interpret
(i) The sign and
(ii) The magnitude.
b. Find the predicted median income for a county that is 1 standard deviation above the mean on x , and use it to explain the concept of regression toward the mean.

Income and Education for Florlda Countles Parameter Varlable Mean Std Dev Predictor Estlmate INCOME 245 4.69 EDUC 4.69 INTERCEPT -4.60 8.86 EDUC 69.49 0.42

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