10.47 Predicting income from age.
Figures 10.11 and 10.12 (pages 506 and 507) analyze data on the age and income of 5712 men between the ages of 25 and 65. Here is Minitab output predicting the income for ages 30, 40, 50, and 60 years:
Predicted Values
Fit | SE Fit | 95% CI | 95% PI |
51638 | 948 | (49780, 53496) | (−41735, 145010) |
60559 | 637 | (59311, 61807) | (−32803, 153921) |
69480 | 822 | (67870, 71091) | (−23888, 162848) |
78401 | 1307 | (75840, 80963) | (−14988, 171790) |
10.47
(a) . (b) (49780, 53496). (c) (−41735, 145010). The interval isn’t very useful; we could have guessed he was in a similar range without any statistics.