The following table shows the unemployment rate for people withvarious education levels in the United States. Suppose we areinterested in predicting the unemployment rate based on theeducation level.
Years of Education | Unemployment rate |
0 | 20.6 |
5 | 17.9 |
8 | 19.1 |
12 | 13.9 |
14 | 12.4 |
16 | 6.2 |
18 | 8.1 |
Give the equation of the regression line. (2pts)
Write a sentence interpreting the y-intercept. (2pts)
Write a sentence interpreting the slope. (2pts)
Predict the unemployment rate for the group of people who have10 years of education. (2pts)
Compute the residual for the group of people who have completed12 years of education. (2pts)
Compute the residual for the group of people who have completed5 years of education. (2pts)
Compute the residual for the group of people who have completed16 years of education. (2pts)
