(Answered) Question use the dataset ceodata08 on the companion website

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Question: Use the dataset ceodata08 on the companion website for this exercise, which gives the ages (Age) and salaries (Salary) for the 50 highest-paid CEOs on the Fortune 500 list of top companies in the United States (Data source: http://www.forbes.com/lists/2009/12/best-boss-09_ CEO-Compensation_CompTotDisp.html).

a. In the relationship between age and salary, which is the response variable and which is the explanatory variable?

b. Plot Salary versus Age. Are there any obvious outliers in the plot?

c. Use your plot from part (b) to discuss whether linear regression is appropriate for predicting CEO salaries from age for the top Fortune 500 companies.

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