Following is the average amount of money left to children by the tooth fairy in recent...

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Statistics

Following is the average amount of money left to children by thetooth fairy in recent years, according to a  

poll of parents.  The table compares these payoutamounts to the U.S. unemployment rate at the same

time.  The scatterplot for the data is alsogiven.           

Unemployment

Rate (%)

Average

Amount Left

4.0

   $4.13

4.5

4.66

5.0

3.91

5.4

4.36

6.7

3.50

7.5

2.42

8.2

2.10

                        

            a)  Findthe value of the linear correlation coefficient .

            b)  Isthere sufficient evidence to support the claim that there is asignificant linear correlation between

                 theunemployment rate and the average amount left by the toothfairy?  What do you base your conclusion on?

                                              

c)  Specify the value of the coefficient ofdetermination .  Give a written interpretation of thisvalue.

d)  Find the equation of the least-squares regressionline.

e)  Confirm that you have examined the scatterplotwith the regression line from Statdisk:

f)  What is the value of the slope of the regressionequation?  Give a writteninterpretation of the slope in the context of this problem.

g)  What is the value of the y-intercept of theregression equation?  Give awritten interpretation of the y-interceptin the context of this problem.

h)  What is the best predicted average tooth fairypayout for a year with a 4.5% unemployment rate?

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