An accounting firm that specializes in auditing mining companies collected the data found in the file MiningAudit.xlsx that accompanies this book describing the long-term assets and long-term debt of its 12 clients.

Prepare a scatter plot of the data. Does there appear to be a linear relationship between these variables?

Develop a simple linear regression model that can be used to predict long-term debt from long-term assets. What is the estimated regression equation? Interpret the value of R squared. Round your percentage to one decimal place.

Approximately____ % of the predicted variation in _____ for a client can be accounted for by its _______.

Suppose that the accounting firm has a client with total assets of $50,000,000. Construct an approximate 95% confidence interval for the amount of long-term debt the firm expects this client to have.

Long-Term Assets Long-Term Debt 26 16 39 20 45 24 47 26 47 30 48 36 54 38 56 43 60 46 62 42 64 38 69 48 Long-Term Assets Long-Term Debt 26 16 39 20 45 24 47 26 47 30 48 36 54 38 56 43 60 46 62 42 64 38 69 48