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Part 1

The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in millions) are shown in the table. The equation of the regression line is

ModifyingAbove y with caret equals 49.687 x plus 17 comma 554.13y=49.687x+17,554.13.

Complete parts a and b.

Issues, x	411	455	680	481	483	389	72	73	194	152
Proceeds, y	19,969	28,996	42,837	31,740	65,771	65,221	20,418	10,912	30,345	27,772

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Part 1

(a) Find the coefficient of determination and interpret the result.