Question: One widely held belief of observers of the business world is that taller people earn more money than shorter people. In a University of Pittsburgh study MBA graduates were polled and asked to report their annual income and their height. The data can be found in the Excel file named ‘Datafile-IN6’. The first column is height in inches and the second column is income in dollars.

1. Using Excel, find the regression line and interpret the slope coefficient. Give a 95% confidence interval for the slope. What is the p-value for testing whether the true slope is 0?

   	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
   Intercept	27343.5	23916.51	1.14329	0.262955	-21729.1	76416.12
   Height	652.9031	343.382	1.90139	0.067973	-51.6585	1357.465

   
   The regression line is:
   Income = 27343.5 + 652.9031*Height
   The 95% CI for the slope is (-51.6585, 1357.465). The p-value for testing whether the true slope is 0 is p = 0.067972874.
2. Predict the income of a graduate who is 6 foot 1 inch.
3. What is the expected difference in the income between someone who is 6 foot 1 inch and someone who is 5 foot 10in?

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document