3 points An oil exploration company wants to develop a statistical model to predict the cost of drilling a new well. One of the many variables thought to be an important predictor of the cost is the number of feet in depth that the must be drilled to create the well. Consequently, the company decided to fit the simple linear regression model, y = bit + 60where y = cost of drilling the new well (in $thousands) and x = number of feet drilled to create the well. Using data collected for a sample of n=83 wells, the following results were obtained: v= 10.5 + 16.20x Give a practical interpretation of the estimate of the slope of the least squares line. O For each additional foot of depth drilled, we estimate the cost to increase by $16,200. For every one dollar cost increase, we expect the depth to increase by 16.2 feet. For each additional foot of depth drilled, we estimate the cost to increase by $10,500. O For a well with a depth of O feet, we estimate the cost to be $10,500. Previous Next eIt is known that P(A) = 0.7, P(B) = 0.4 and P(A and B) = 0.24. Which of the following is true? A and B are both independent and mutually exclusive (disjoint). O A and B are Mutually Exclusive (disjoint) O A and B are Independent O A and B are neither independent nor mutually exclusive (disjoint) Previous Next2 points EXTRA CREDI (2 points). This problem is optional. A regression model (not necessarily linear) has been fit between an explanatory variable and a response variable. Given the following information, determine the value of the coefficient of determination r 2 [(v-v)2 = 1132.6 and [(v-y ) 2 = 102.8 O r2=0.91 O r2 =0.82 O r2 =0.87 O r2 =0.77 Next