The researcher wishes to use numerical descriptive measures to summarize the data on each of the two variables: hours worked per week and yearly income. a) Prepare and display a numerical summary...

The researcher wishes to use numerical descriptive measures to summarize the data on each of the two variables: hours worked per week and yearly income.
a) Prepare and display a numerical summary report for each of the two variables including summary measures such as mean, median, range, variance, standard deviation, smallest and largest values and the three quartiles.
Notes: Use QUARTILE.EXC command to generate the three quartiles.
b) Compute the correlation coefficient using the relevant Excel function to measure the direction and strength of the linear relationship between the two variables. Display and interpret the correlation value.

Hours Per Week	Yearly Income ('000's)
18	43.8
13	44.5
18	44.8
25.5	46.0
11.5	41.2
18	43.3
16	43.6
27	46.2
27.5	46.8
30.5	48.2
24.5	49.3
32.5	53.8
25	53.9
23.5	54.2
30.5	50.5
27.5	51.2
28	51.5
26	52.6
25.5	52.8
26.5	52.9
33	49.5
15	49.8
27.5	50.3
36	54.3
27	55.1
34.5	55.3
39	61.7
37	62.3
31.5	63.4
37	63.7
24.5	55.5
28	55.6
19	55.7
38.5	58.2
37.5	58.3
18.5	58.4
32	59.2
35	59.3
36	59.4
39	60.5
24.5	56.7
26	57.8
38	63.8
44.5	64.2
34.5	55.8
34.5	56.2
40	64.3
41.5	64.5
34.5	64.7
42.3	66.1
34.5	72.3
28	73.2
38	74.2
31.5	68.5
36	69.7
37.5	71.2
22	66.3
33.5	66.5
37	66.7
43.5	74.8
20	62.0
35	57.3
24	55.3
20	56.1
41	61.5

Jun 04, 2022

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The researcher wishes to use numerical descriptive measures to summarize the data on each of the two variables: hours worked per week and yearly income. a) Prepare and display a numerical summary...

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