Calculate the covariance and correlation of Money Supply Growth Rate and Inflation Rate.

Test the null hypothesis, H0, that the true correlation in the population is 0 ( = 0) against the alternative hypothesis, Ha, that the correlation in the population is different from 0 ( 0) at the 10, 5 and 1 % levels of significance.

Solve the linear regression equation step by step for b1hat and b0hat.

Compute the Standard Error of Estimate.

Calculate the coefficient of determination for the regression using:

\begin{tabular}{|l|l|l|} \hline Country & Money Supply Growth Rate & Inflation Rate \\ \hline Australia & 11.66% & 6.7696 \\ \hline Canada & 9.15% & 5.1996 \\ \hline New Zealand & 10.60% & 8.15% \\ \hline Switzerland & 5.75% & 3.3996 \\ \hline United Kingdom & 12.58% & 7.5896 \\ \hline United States & 6.34% & 5.09% \\ \hline Average & 9.35% & 6.03% \\ \hline \end{tabular} Total variation - Unexplained variation Total variation \begin{tabular}{|l|l|l|} \hline Country & Money Supply Growth Rate & Inflation Rate \\ \hline Australia & 11.66% & 6.7696 \\ \hline Canada & 9.15% & 5.1996 \\ \hline New Zealand & 10.60% & 8.15% \\ \hline Switzerland & 5.75% & 3.3996 \\ \hline United Kingdom & 12.58% & 7.5896 \\ \hline United States & 6.34% & 5.09% \\ \hline Average & 9.35% & 6.03% \\ \hline \end{tabular} Total variation - Unexplained variation Total variation