Find the correlation relationship for the data. Use Microsoft Excel. Create a scatter plot.
The data shown in the table were collected by surveying 100 employees with five years’ experience. Find the correlation relationship for the data. Use Microsoft Excel. Create a scatter plot. Identify and discuss the type of correlation, and whether it is negative or positive, strong or weak. Create a regression line and analyze the coefficients for significance. Predict the estimated salary with 20 years of schooling.
Years of schooling | Total annual salary |
10 | $32 K |
12 | $33 K |
13 | $44.3 K |
15 | $55.7 K |
18 | $60 K |
