To determine how the number of housing starts is affected by mortgage rates, an economist recorded t
Question: To determine how the number of housing starts is affected by mortgage rates, an economist recorded the average mortgage rate and the number of housing starts in a large country for the past 10 years. These data are listed here. Data file Xr16-03.
| Rate | 8.5 | 7.8 | 7.6 | 7.5 | 8.0 | 8.4 | 8.8 | 8.9 | 8.5 | 9.0 |
| Starts | 115 | 111 | 185 | 201 | 206 | 167 | 155 | 117 | 133 | 150 |
(a) Determine the regression line.
(b) What do the coefficients of the regression line tell you about the relationship between mortgage rates and housing starts?
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Deliverables: Word Document
Deliverables: Word Document
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