math question i need help with TODAY 5.6 please!

Question

1)     The table below shows the income for an employee over his first 8 years of work. Use this to estimate his income for his 15th year of work.

Years	1	2	3	4	5	6	7	8
Income	45,000	46,814	48,212	52,870	54,125	58,532	61,075	62,785

   Linear Regression Equation: ____________________

   Correlation Coefficient (r): _________

  Type of Correlation: ______________________

    (positive, negative, none)

    Is the correlation strong? Explain

 Using the linear regression equation predict his income for his 15^th year of work.Is this projection reasonable? Why or why not?

Answer 1

You can use Excel very efficiently to obtain correlation details.

For your problem, I = 2714.5y + 41462 The correlation coefficient is .9844

In year 15 (y), the income (I) calculates to 82179.5.

When you correlate beyond the data, you are extrapolating! But in this case, it should be a fair estimate if things remain the same but who would know that??