The relationship between age and net worth

Reference no: EM131111558

The booming economy of the 1990s created many new billionaires. The 1999 Forbes 400 ranks the 400 wealthiest people in the US. The top 15 billionaires on this list are described in the table above right.

a. Construct a scattergram for these data. What does I the plot suggest about the relationship between age and net worth of billionaires?

b. Find the coefficient of correlation and explain what it tells you about the relationship between age and net worth.

C. If the correlation coefficient of part b had the opposite sign, how would that change your interpretation of the relationship between age and net worth?

d. Find the coefficient of determination for a straight line model relating net worth (y) to age (x). Interpret the result in the words of the problem

Reference no: EM131111558

Questions Cloud

The fertility rate of a country : The fertility rate of a country is defined as the number of children a woman citi7en bears, on average, in her lifetime. Scientific American (Dec. 1993) reported on the declining fertility rate in developing countries. The researchers found that f..

What is the purpose in finding : What is a limit in calculus, and what is the purpose in finding it?

What was the average force during the impact : Leon's bicycle wheels have a circumference of 2 m. What is his linear speed when the wheels rotate at 1 revolution per second? Show all work leading to your answer.

Number of days in january : What is the mathematical average of the number of weeks in a year, days in a week, and the number of days in January?

The relationship between age and net worth : The booming economy of the 1990s created many new billionaires. The 1999 Forbes 400 ranks the 400 wealthiest people in the US. The top 15 billionaires on this list are described in the table above right.

The electronics manufacturing industry : Studies of Asian (particularly Japanese) and U.S. managers in the 1970s and 1980s found sharp differences of opinion and attitude toward quality management. Do these differences continue to' exist?

To what extent does the war on terrorism represent a break : To what extent does the War on Terrorism represent a break with previous United States foreign and defense policy?

Justice administration : Topic is justice administration and how it relates to a specific management, abministration, or leadership issue involving the operations of police, courts, corrections, or other criminal justice organizations.

Airfares between cities to create a weighted graph : Choose four cities you would like to visit. Consult the Internet and use one-way airfares between cities to create a weighted graph.

User Account

All Pages