Question: High salaries for presidents and high executives of charitable organizations have been in the news from time to time. Consider the information in Table for the United Way in 10 major cities.
a. What percent of the variation in presidents' salaries is explained by the fact that some raised more money per capita than others? Please give both the number and the usual statistical name for this concept.
b. Find the regression equation to predict salary from money rose per capita.
c. Find the residual value for Seattle, predicting salary from money rose per capita.
d. Find the usual summary measure of the typical error made when using the regression equation to predict salaries from money raised per capita.
e. Is there a significant relationship between president's salary and per capita money raised? How do you know?
