(solution) Education and income The regression equation for a sample of 100 people relating x = years of…

(solution) Education and income The regression equation for a sample of 100 people relating x = years of…

Education and income The regression equation for a sample of 100 people relating x = years of education and y = annual income (in dollars) is yn = -20,000 + 4000x, and the correlation equals 0.50. The standard deviations were 2.0 for education and 16,000 for annual income. a. Show how to find the slope in the regression equation from the correlation. b. Suppose that now we let x = annual income and y = years of education. Will the correlation or the slope change in value? If so, show how.