Answer to Question #93711 in Statistics and Probability for su

Question

Many people assume that the total amount of money saved depends on their total income. The following data shows the average saving per month (RM’00) and average income per month (RM’00) for various groups of employees.


Income: 19 22 27 30 36 43 47 51 61 64
Saving: 1.0 1.4 1.8 2.4 3.0 3.8 4.3 4.5 5.8 6.3


1)Fit a simple linear regression model for this data.
2)How much money will a person save if his monthly income is RM4,500?

Answer 1

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