Suppose a random sample of twelve families had the following annual incoMeand savings. Using SPSS, a
Question: Suppose a random sample of twelve families had the following annual incoMeand savings. Using SPSS, answer the following questions.
| Family | Income, I (in Thousands) | Savings, S (in Thousands) |
| 1 | 22 | 2 |
| 2 | 18 | 2 |
| 3 | 17 | 1.6 |
| 4 | 27 | 3.2 |
| 5 | 30 | 3.0 |
| 6 | 21 | 2.0 |
| 7 | 23 | 1.9 |
| 8 | 28 | 3.1 |
| 9 | 15 | 1.5 |
| 10 | 20 | 2.5 |
a) What is the regression equation for Savings (S) (5 points).
b) Graph the points and a fitted line (as well as the slope). (3 points)
c) If income is 25, what can you estimate savings to be? (2 points)
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Solution: The solution consists of 3 pages
Deliverables: Word Document
Deliverables: Word Document
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