The regression equation IS Y= .078 + .06X, where GNP is measured in billions of dollars. 

a. Interpret the slope. 

b. Interpret the Y-intercept. 

Note: Most of the following problems contain data that are to be manipulated using regression analysis procedures. Although it is possible, even useful, to work one or two of these by hand, it is important for you to learn how to use computer software to solve such problems. In the next chapter, you will learn about multiple regression analysis, in which it is not feasible to solve the problems by hand. You should become familiar with regression analysis software while solving the following problems. If you have access to Minitab or Excel, see the section at the end of this chapter for instruc- tions on their use. 1. Which of the following situations is inconsistent? a. b. c. d. = 499.21X and r = .75 100.9X and r = -.70 -20 + 1X and r = .40 -7 - 4X and r = -.90 = = 2. AT&T (American Telegraph and Telephone) earnings in billions of dollars are estimated using GNP (gross national product). The regression equation is = .078 +.06X, where GNP is measured in billions of dollars. a. Interpret the slope. b. Interpret the Y-intercept.