question 2

2. Researchers wanted to know if states with higher populations also have more millionaires. The table below gives the population {in millions) and the number of millionaires {in tens of thousands} for several states. {10 points} ---I-n (1,000,0005) {in 10,0005} .. m -\" -\" "m \"m -.=.--::- \"nu\" -E\"EE- - . -_ a} Compute the correlation to measure the degree of relationship between the variables. Show your work for the correlation calculation. (4 pts} --___M (1,000,000s} ,1. 10,000s} ,A' ,1. ,_ m_-_-- _l____ -E-- \"m- \"mmm- _l_.ll_ \"ma.m- =\"nam- Copyright 2021 Department of Statistics and Data Sciences. All rights reserved. b) Find the regression equation for predicting the number of millionaires (in 10,0005) from the population {in millions}. Show your work. (2 pts c} Interpret the slope and y-intercept of your model. (2 pts} d) If a state had roughly 5 million people, what is their predicted number of millionaires? {1 9;} e} What percentage of variance for the millionaire count is accounted for by the population size (compute R2)? Interpret this value. (1 Qt)