The numbers of initial public offerings of stock issued and the total proceeds of these offerings (in millions of dollars) for 12 years are shown in the table. The equation of the regression line is ŷ = 104.965x + 14,093.666.

Use the data to 

(a) Find the coefficient of determination r₂ and interpret the result, and 

(b) Find the standard error of estimate s_e and interpret the result.

Transcribed Image Text:

Number of offerings, x 316 485 67 382 79 70 Proceeds, y 34,314 64,906 64,876 34,241 22,136 10,068 Number of offerings, x 21 183 43 168 162 162 Proceeds, y 31,927 28,593 30,648 35,762 22,762 13,307