It is widely believed that the more education one receives the higher the income earned at the time of first employment and over the course of a career. However, due to varying reasons, many people never complete high school and, thus, never receive their high-school diploma. Although individuals without a high-school diploma are often able to find employment, they experience economic outcomes quite different from those who finish high school before entering the workforce to earn a living.
1. Use technology to create and provide a scatterplot of the association between the “percent of low- income working families” and the “percent of 18-64 yr-olds with no high school diploma” data for each jurisdiction. Write at least two sentences explaining how/why it is appropriate to create such a scatterplot, and describe the characteristics of the association seen in the scatterplot. Be sure to use the actual names of the variables in their appropriate places in your response(s).
2. Use technology to find the regression equation for the linear association between the “percent of low-income working families” and the “percent of 18-64 yr-olds with no high school diploma.” Provide this equation and write a brief interpretation of the slope using the variable names.
3. A student states that a decrease in the “percent of 18-64 yr-olds with no high school diploma” will lead to a decrease in the “percent of low-income working families.” Write at least two concise sentences addressing the key uses of linear correlation and comment on its limitations in a response to the student’s statement.
4. Calculate and provide the R-squared value for the regression equation. Provide a statement about its meaning, in general, and, its specific interpretation in the context of this assignment.
During the recovery from the Great Recession of 2007-2009, the economic situation for many families improved. However, in 2011 the recovery was slow and it was uncertain as to how much had really changed on the national level. To estimate the national average of the percent of low-income working families, a representative simple random sample of the percent of low-income working families from each of the country’s reporting jurisdictions could be used to calculate a point estimate and create a related confidence interval. With this confidence interval a better picture of the nation’s recovery can be had and legislative decisions can be made.
5. Describe in two or three sentences how a simple random sample of size n=20 could be obtained from the full list of jurisdictions provided for use with this assignment.
