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 963 ​25-34 years 29.5 ​$31 comma 130 ​35-44 years 39.5 ​$42 comma 637 ​45-54 years 49.5 ​$44 comma 692 ​55-64 years 59.5 ​$41 comma 477 65 years and older 69.5 ​$24 comma 502

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, 25000), (40, 31000), (50, 45000), (60, 43000), 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, 49000), (30, 35000), (40, 29000), (50, 15000), (60, 17000), and (70, 19000). All coordinates are approximate. 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, 29000), (40, 17000), (50, 15000), (60, 19000), and (70, 35000). 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, 11000), (30, 31000), (40, 43000), (50, 45000), (60, 41000), and (70, 25000). All coordinates are approximate. Your answer is correct. ​[0,80,10] by​ [0,60000,10000] Part 2 Which type of relation exists between the two​ variables? A. Linear with positive slope B. Quadratic with agreater than0 C. Quadratic with aless than0 Your answer is correct.D. Linear with negative 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.

Solution

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Math Problem Analysis

Mathematical Concepts

Quadratic Regression
Data Analysis
Scatter Plot

Formulas

Quadratic function I(x) = ax^2 + bx + c

Theorems

Regression Analysis
Parabolic Curve Fitting

Suitable Grade Level

Grades 10-12