Math Problem Statement
An individual's income varies with age. The table shows the median income I of individuals of different age groups within the United States for a certain year. For each age group, let the class midpoint represent the independent variable x. For the class "65 years and older," assume that the class midpoint is 69.5. Complete parts (a) through (e). Age Class Midpoint, x Median Income, I 15-24 years 19.5 $10 comma 964 25-34 years 29.5 $33 comma 132 35-44 years 39.5 $41 comma 636 45-54 years 49.5 $44 comma 692 55-64 years 59.5 $41 comma 477 65 years and older 69.5 $23 comma 500
Question content area bottom Part 1 (a) Use a graphing utility to draw a scatter diagram of the data. Comment on the type of relation that may exist between the two variables. Choose the correct answer below. A.
A scatterplot has a horizontal axis labeled from 0 to 80 in increments of 10 and a vertical axis labeled from 0 to 60,000 in increments of 10,000. Six points are plotted at: (20, 11000), (30, 24000), (40, 33000), (50, 45000), (60, 42000), and (70, 41000). All coordinates are approximate. B.
A scatterplot has a horizontal axis labeled from 0 to 80 in increments of 10 and a vertical axis labeled from 0 to 60,000 in increments of 10,000. Six points are plotted at: (20, 11000), (30, 33000), (40, 42000), (50, 45000), (60, 41000), and (70, 24000). All coordinates are approximate. Your answer is correct.C.
A scatterplot has a horizontal axis labeled from 0 to 80 in increments of 10 and a vertical axis labeled from 0 to 60,000 in increments of 10,000. Six points are plotted at: (20, 49000), (30, 27000), (40, 18000), (50, 15000), (60, 19000), and (70, 37000). All coordinates are approximate. D.
A scatterplot has a horizontal axis labeled from 0 to 80 in increments of 10 and a vertical axis labeled from 0 to 60,000 in increments of 10,000. Six points are plotted at: (20, 49000), (30, 37000), (40, 27000), (50, 15000), (60, 18000), and (70, 19000). All coordinates are approximate. [0,80,10] by [0,60000,10000] Part 2 Which type of relation exists between the two variables? A. Linear with negative slope B. Quadratic with agreater than0 C. Quadratic with aless than0 Your answer is correct.D. Linear with positive slope Part 3 (b) Use a graphing utility to find the quadratic function of best fit that models the relation between age and median income. The quadratic function of best fit is yequals negative 0.040xsquaredplus 2.216xminus 20.530. (Type integers or decimals rounded to three decimal places as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Statistics
Quadratic Equations
Data Modeling
Formulas
Quadratic function of best fit: y = ax^2 + bx + c
Vertex formula for quadratic functions: x = -b/2a
Theorems
Quadratic formula for finding roots of quadratic equations
Suitable Grade Level
Grades 10-12
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