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. Determine the standard error of estimate and describe what this statistic tells you about the regression line.

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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. Determine the standard error of estimate and describe what this statistic tells you about the regression line.

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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. Determine the standard error of estimate and describe what this statistic tells you about the regression line.