Question 5A researcher is interested in investigating if the average monthly income of a household has a relationship with the average monthly expenses incurred by the same household. He gained information from several households in a certain area to validate this claim. The following scatter plot shows the data that he had obtained.1. (3 pts) Of the two variables shown in the plot, which is the explanatory variable, and which is the response variable? How did you decide between them? 2. (4 pts) Describe the scatterplot in terms of the 4 important aspects discussed in class. 3. (2 pts) Give the range of the variable Average income based on the information on the scatter plot. 4. (2 pts) Write down the correct regression equation that matches with the scatterplot using only the required information presented in the table below.Term Coefficient Standard errorIntercept 1044.96 0.054Avg. monthly income 0.43 0.0365. (2 pts) Interpret the regression slope in (4) in the context of study. 6. (2 pts) Can we interpret the y-intercept from problem 4? If yes, interpret in context. If not, explain why not. 7. (4 pts) Based on the equation you got in (4), predict (calculate) the average expenses for a house hold, if the average monthly income was,a.) 2100b.) 350008. (2 pts) Which one of the two predictions among the ones you got in 7.) are you comfortable reporting? Explain with reason. 9. (2 pts) The correlation coefficient for the sample data in this study is r= 0.81, calculate the coefficient of determination. 10. (2 pts) Interpret the coefficient of determination in problem 9. 11. (2 pts) Suppose the average monthly income was $5000. Calculate the residual for an observed monthly expense of $3950.

Average expenses 1000 2000 3000 4000 5000 6000 2000 plot shows the data that he had obtained. 4000 Average Income 0009 0008 OOOOL