Question 2 (7 marks) Assume you have noted the following prices for books and the number of pages that each book contains. Book Price (in $) Pages Y X A 7.00 500 B 7.50 700 C 9.00 750 D 6.50 590 m 7.50 540 F 7.00 650 G 4.50 480 A part of the output of a regression analysis of Y against X using Excel is given below: SUMMARY OUTPUT Regression Statistics Multiple R 0.75027 R Square 0.56290 Adjusted R Square 0.475487 Standard Error 0.980614 Observations 7 ANOVA of SS MS F Significance F Regression 1 6.191972 6.191972Residual 4.808028 0.961606 Total 6 11 Coefficients Standard Error t Stat P-value Intercept 1.04155 2.37717 Pages 0.00990 0.00390 A. State the estimated regression line and interpret the slope coefficient. (1 mark) B. What is the estimated total price when a book has 1000 pages? (1 mark) C. What is the value of the coefficient of determination? Interpret it. (1 mark) D. Test whether there is a significant relationship between price and pages at the 10% significance level. Perform the test using the following six steps. (4 marks) Step 1. Statement of the hypothesis (0.5 mark) Step 2. Standardised test statistic (0.5 mark) Step 3. Level of significance (0.5 mark) Step 4. Decision Rule (1 mark) Step 5. Calculation of test statistic (1 mark) Step 6. Conclusion (0.5 mark)