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Interpret the meaning of the regression coefficient (b1) of the independent variable A bank wanted to find out whether the number of loan applications received

Interpret the meaning of the regression coefficient (b1) of the independent variable

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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 6 24 8 16 8,5 18 6 28 6.5 27 7.5 20 8 17 6 21

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