Question

Ten 25-year olds were surveyed to find out their years of formal education (first grade through college) and their annual income. The data is presented below. Years of Education 8,10,12,12,13,14,16,1618,19 Income (in thousands): 18,19,24,25.5,26.6,28,30,33,40,45 Use the equation y=2.36x-3.7 to determine how much someone would make who has no formal education. Does your answer make sense? Why or why not?​

Answer 1

no

Explanation:

The equation y=2.36x-3.7 relates a person's years of formal education (x) to their annual income (y) based on the given data. To find out how much someone with no formal education would make, we can substitute x=0 into the equation: The predicted income is -3.7 thousand dollars, which doesn't make sense since income cannot be negative. Therefore, we cannot use this equation to make predictions outside of the range of the given data. Additionally, it is important to note that this data set is small and may not be representative of the population as a whole, so any conclusions drawn from it should be taken with caution.