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For this question, use the data in the following table. The table lists the personal incoMeand o

Question: 10. For this question, use the data in the following table. The table lists the personal incoMeand outlays in trillions of dollars for Americans for 11 recent years.

Personal	Personal
income, x	outlays, y
4.5	3.7
4.9	4.0
5.0	4.1
5.3	4.3
5.6	4.6
5.9	4.8
6.2	5.1
6.5	5.4
7.0	5.7
7.4	6.1
7.8	6.5

a. (12) Construct a scatter plot for the data on the grid below. Do the data appear to have a positive linear correlation, a negative linear correlation, or no linear correlation?

b. (12) Calculate the correlation coefficient r. What can you conclude?

c. (6) Using a t-test, test the level of significance of the correlation coefficient r. Use a = 0.05.

d. (6) Find the equation of the regression line for the data.

e. (4) Use the regression equation to predict the personal outlays when the personal

income is 5.3 trillion dollars.

f. (8) Find the coefficient of determination and interpret the results.

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Solution: The solution file consists of 4 pages
Solution Format: Word Document