Question: In problem 12.6 on page 466, a professor wanted to estimate the spending of his students based upon their income. Using the results of that

In problem 12.6 on page 466, a professor wanted to estimate the spending of his students based upon their income. Using the results of that problem:

a. Determine the coefficient of determination, r 2

, and interpret its meaning.

b. Determine the standard error.

c. How useful do you think this regression is for predicting spending?

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