Do higher-paid CEOs control bigger companies? The data give…
Do higher-paid CEOs control bigger companies? The data given below compares annual CEO salaries (in millions of $) and annual company revenues (in billions of $). The data was obtained from Forbes magazine and represents a random sample of top U.S. executives. Data Table Salary (millions of $), x 0.8 1.0 1.1 1.7 2.3 Revenue (billions of $), y 14 11 19 20 25 Calculate the value of the correlation coefficient (round to three decimal places). [r] Is there a significant correlation between x and y? (yes or no) [sign] Calculate the value of the coefficient of determination (round to three decimal places). [r-sq] Find the equation of the least-squares regression line (round each coefficient to three decimal places). y = [a] + [b]x Predict the annual company revenue if the CEO has an annual salary of $1.5 million (round to the same number of decimal places as y). [pred]
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