Income and Education Narrative
A professor of economics wants to study the relationship between income (y in $1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below.
-Refer to Income and Education Narrative. Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income.

Question

Income and Education Narrative
A professor of economics wants to study the relationship between income (y in $1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below. 
-Refer to Income and Education Narrative. Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income.

Quizplus · Accepted Answer

The Answer of Income and Education Narrative
A professor of economics wants to study the relationship between income (y in $1,000s) and education (x in years). A random sample eight individuals is taken and the results are shown below. 
-Refer to Income and Education Narrative. Conduct a test of the population slope to determine at the 5% significance level whether a linear relationship exists between years of education and income.