How well can a taxpayer’s taxes Y, as a percentage of gross income, be predicted by knowledge of his
Question: How well can a taxpayer’s taxes Y, as a percentage of gross income, be predicted by knowledge of his or her gross income X (in thousands of dollars)? The following represents a random sample of 14 federal income tax returns in a given year
Income X | Tax Y |
45.6 | 10.4 |
62.2 | 11.8 |
77.6 | 14.7 |
118.8 | 16.7 |
30.4 | 5.8 |
50.1 | 10.2 |
60 | 13.9 |
49.3 | 10.9 |
36.1 | 7 |
38 | 9.1 |
108.2 | 16.1 |
54 | 12.6 |
42.1 | 9.8 |
90 | 16.6 |
Fit a simple linear regression model to these data, evaluated the resulting least squares equation (including a residual analysis) and revise it as necessary.
Price: $2.99
Answer: The solution consists of 3 pages
Deliverables: Word Document![](/images/msword.png)
Deliverables: Word Document
![](/images/msword.png)