Question: In 1993, Forbes Magazine identified what it considered to be America's 60 best small companies, and published the ages and salaries of their CEOs. The data are in the dataset ceodata on the companion website. The annual salaries (in thousands of dollars) for 59 of these CEOs are in the dataset along with the ages.
a. Plot Salary versus Age.
b. Compute the correlation coefficient and r2.
c. Characterize the relationship between annual salary and age. What is the pattern of the relationship? How strong is the association?