A bank wanted to find out whether the number of loan applications received are influenced by the current loan interest rate. The manager selected 11 monthly periods for which different interest rates applied and recorded the number of loan applications received. Loan applications received Interest rate (%) Loan applications 7 18 6.5 22 5.5 30 16 24 8 16 8.5 18 6 28 6.5 27 7.5 20 8 17 6 21 (E Identify the independent variable and the dependent variable. b) Calculate the correlation between the rate of interest and the number of loan applications received. Comment on it. c) Derive the least squares regression line between the rate of interest and the number of loan applications received d) Find the coefficient of determination. Interpret and comment on it. e) Interpret the meaning of the regression coefficient (b1) of the independent variable. How many loan applications can the bank expect to receive when the interest rate is 6%? Unload v itions in the attachment