Question

Top Wealth Managers. An issue of HAKRON'S presented information on top wealth managers in the United States bused on individual clients with accounts of $\$1$million er more. Data were given for various variables, two of which were a number of private client managers and private client assets. Those data are provided on the WeissStats site, where private client assets are in ballons of dollars.

a. Obtain a scatterplot for the dater.

h. Decide whether finding a depression lime for the data is reasonable. If so, then also do jurras (e) (f).

Short answer

a) The scatter plot is

b) No

Step-by-step solution

Part (a) Step 1: Given Information 

An issue of HAKRON'S presented information on top wealth managers in the United States bused on individual clients with accounts of $\$1$million er more. Data were given for various variables, two of which were a number of private client managers and private client assets.

To determine the scatterplot for the given data.

Part (a) Step 2: Explanation

The MINITAB can be used to create a scatterplot like follows:

- Save the data in the $x$and $y$columns, correspondingly.

- Select Scatter plot from the graph menu.

- Select the Scatter Plot With Connect Lines option.

- In the $y$variables text box, specify the Managers column.

- In the $x$variables text box, specify the Assets column.

- Select OK.

The scatterplot can be made as follows:

Part (b) Step 1: Given Information

An issue of HAKRON'S presented information on top wealth managers in the United States bused on individual clients with accounts of $\$1$million er more. Data were given for various variables, two of which were a number of private client managers and private client assets.

To determine whether the evaluation of the regression line is reasonable or not.

Part (b) Step 2: Explanation

No, finding the regression line for the supplied data is not realistic because there are potential outliers and influential observations. Furthermore, the data appears to be funnel-shaped. As a result, the data does not appear to represent a linear pattern.

As a result, portions (c) through (f) are omitted.