) A researcher was interested in the relationship between expenditure on imports ($million) and personal income ($ million) for residents in a city. EXCEL was used to create the following simple linear regression output. Imports and Income Excel Output: SUMMARY OUTPUT Regression Statistics Multiple R 0.967 R Square 0.936 Adjusted R Square 0.932 Standard Error 0.932 Observations 0.932 ANOVA df SS MSFSignificance Regression 1 130904.793 130904.793 263.121 3.46E-12 Residual 188955.157 497.509 Total 19 139859.95 Coefficients Standard Error t Stat P-value Lower 95% Intercept -260.771 32.067 -8.132 0.000 -328.14 Income 0.246 0.015 16.221 0.000 0.214 a) Write down the regression equation. b) Interpret the slope. c) Interpret the coefficient of determination. 2) You are told that X is a normally distributed random variable with = 0.6 and 97.5% of the values are below an X value of 5. What is the value of ? Please give your answer correctly rounded to two decimal places