The data below show the hourly wages earned by six employees. The second column shows the number of years of work experience for each employee. The third column is a binary variable indicating whether or not the employee has completed a training program. For the following questions, you may check your work using a calculator but must show how you set up the expression you are using (i.e. show your work).
wage experience training
8 1 0
20 10 0
10 2 0
12 4 0
16 4 1
14 6 1
a) What are the mean, variance, and standard deviation of wages?
b) What is the mean, variance, and standard deviation of experience?
c) Draw a scatter plot with experience on the horizontal axis and wages on the vertical axis. Draw a straight line that best fits the data points. Based on this line, what is the approximate wage of someone with 0 years of experience?
d) What is the covariance of wages and experience? Is this consistent with the line you drew in part c)? Explain.
e) What is the correlation of wages and experience?

The approximate wage of someone with 0 years of experience is -4.64

The dataset of wages is

Wages = 8, 20, 10, 12, 16, 14

The mean is calculated as:

Mean = Sum/Count

This gives

Mean = (8+ 20+ 10+ 12+ 16+ 14)/6

Mean = 13.33

The variance is

Variance = ∑(x- mean)²/n-1

This gives

Variance = [(8 - 13.33)^2 + (20 - 13.33)^2 + (10 - 13.33)^2 + (12 - 13.33)^2 + (16 - 13.33)^2 + (14 - 13.33)^2]/5

Evaluate

Variance = 18.67

The standard deviation is

Standard deviation = √Variance

This gives

Standard deviation = √18.67

Evaluate

Standard deviation = 4.32

The dataset of experience is

Wages = 1, 10, 2, 4, 4, 6

The mean is calculated as:

Mean = Sum/Count

This gives

Mean = (1+ 10+ 2+ 4+ 4+ 6)/6

Mean = 4.5

The variance is

Variance = ∑(x- mean)²/n-1

This gives

Variance = [(1 - 4.5)^2 + (10 - 4.5)^2 + (2 - 4.5)^2 + (4 - 4.5)^2 + (4 - 4.5)^2 + (6 - 4.5)^2]/5

Evaluate

Variance = 10.3

The standard deviation is

Standard deviation = √Variance

This gives

Standard deviation = √10.3

Evaluate

Standard deviation = 3.21

See attachment for the scatter plot and the straight line that best fits the data points.

The equation of the straight line is

y = 0.69x - 4.64

The approximate wage of someone with 0 years of experience is

y = 0.69 * 0 - 4.64

Evaluate

y = -4.64

Hence, the approximate wage of someone with 0 years of experience is -4.64

This is calculated as:

Cov(x,y) = ∑(x - x mean)(y - y mean)/N - 1

So, we have:

Cov(x,y) = [(8 - 13.33) * (1 - 4.5) + (20 - 13.33)*(10 - 4.5) + (10 - 13.33)*(2 - 4.5) + (12 - 13.33)*(4 - 4.5) + (16 - 13.33)*(4 - 4.5) + (14 - 13.33)*(6 - 4.5)]/5

Evaluate

Cov(x,y) = 12.80

Hence, the covariance of wages and experience is 12.80

Is this consistent with the line you drew in part c?

Yes it is

Here, we use a graphing calculator.

From the graphing calculator, we have:

r = 0.9231

Hence, the correlation of wages and experience is 0.9231

Read more about linear regression at:

https://brainly.com/question/17844286

#SPJ1

A person invests 3000 dollars in a bank. The bank pays 6% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 7700 dollars?

Factor out
the GCF
56x^2? + 16x + 64

A person places $103 in an investment account earning an annual rate of 1.9%, compounded continuously. Using the formula V = P e r t V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 6 years.

HELPPP 25 POIIIIINTSS.......​

What is the least common multiple of 36 and 90?

The vertices of a swimming pool are E(5, 5), F(5, 20), G(35, 20), and H(35, 5). The endpoints of a line that divides the pool into two sections are J(15, 5) and K(15, 20). The coordinates are measured in meters. What is the area of each section?

please help i dont understand this problem

If 23% of is 46, then what is the value of ?​

Which line is parallel to y=2x-3?


A. y=-2x+4


B. y=2x+4


C. y=1/2x+4


D. y= - 1/2x+4

Could someone please help me with this

Which point is located at (2,3)

what 2/5(10x + 3/4) - 2x? ​

A sign in a bakery gives these options: Option A: 15 cupcakes for $30 Option B: 30 cupcakes for $56 Option C: 60 cupcakes for $100 1. Find each unit price to the nearest cent. 2. Which option is the best deal per cupcake and gives the lowest unit price?​

A bicycle has a listed price of $706.95 before tax. If the sales tax rate is 9.75%, find the total cost of the bicycle with sales tax
included.
Round your answer to the nearest cent, as necessary.

help me will mark as brainliest can someone give me the answer of both or atleast one​

Student A's scores have a standard deviation of 5.4 and Student B's scores have a standard deviation of 10.6. What does Student B's higher standard deviation mean of his/her test scores?

Hey answer this those who know?​

PLEASE HELP ASAP! WILL MARK BRAINIST! PLEASE PLEASE

8 squared + b squared= 17 squared find b

helppppppppppppppppp

Which property is illustrated by the following statement?
AJAR= AJAR
A
J
R
A. Transitive
OB. Associative
O C. Reflexive
D. Symmetric

a square has side length 95 what is the length of the diagonal of the square express your asnser in simplest radical form

Find the circumference. Use 3.14 for pi. ​

Help me please answer thanks

A hotel provides discounts to area attractions for people
attending conventions, hoping this will encourage them to
bring their families. The hotel wants to see if the marketing
campaign was successful.
Which of these methods will produce the most representative sample of the
population of convention participants?
A. The hotel surveys all the convention visitors who eat at their hotel,
B. Surveyors stand outside local attractions and ask arriving guests if
any member of their family is in town for a convention,
C. Surveyors stand beside one of the booths during a convention and
ask the people who visit the booth if they brought their families.
D. The hotelsends an email to a random selection of people who
have been registered as convention participants during the past
six months

Help asap!
a baker Has 88 muffins he fills large boxes that hold 9 muffins each then he puts the leftover muffins in a small box how many muffins are in the small box

What is the pattern for valence electrons on the periodic table?

Admission to the carnival cost four dollars then each game cost $.50 if Kalen can spend no more than $10 how many games can she play

For all parts of this question, use the function y + 2 = 3(x + 4)
Part A: Complete the x-y table:

Graph the system of equations, and determine
the solution.

X + 2y = 6
2x + 4y = 4