Scatter Plots
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The document summarizes data on average weekly earnings from 2010 based on level of education completed. It shows earnings increasing from less than a high school diploma to professional and doctoral degrees. A linear regression line was fitted to the data, with a positive slope of 108 indicating higher earnings with more education. The correlation was determined to be weak but positive. The conclusion is that more education leads to higher earnings and affects plans to stay in school longer to earn higher pay and provide more for a future family.
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Scatter Plots
- 1. Scatter Plots Daniel Johnston Pd: 4th
- 2. Department of Labor & Statistics Weekly Earnings in 2010 Less than a Highschool Diploma $444 Highschool Diploma $626 Some College, no degree $712 Associate Degree $767 Bachelors Degree $1038 Masters Degree $1272 Professional Degree $1610 Doctoral Degree $1550
- 4. Linear Regression Equation of line best fit/Regression Model: -708.51+108.63x Rate of change(slope): 108.62785 Y-Intercept: -708.5137 Correlaton coefficient: .5 - .7
- 5. Conclusion 1. Yes their is relationships between these two sets of data. Its r = +0.5 Weak. 2. In the real world, the rate of change is basically saying the more college time you have the higher your average weekly earnings get. 3. This effects my plans for future education by alot. It makes me wanna stay in school longer so i know that my paycheck will be higher and i can get a better job. Also, it will let me know what kind of things i can provide my family with whenever i start my own family.