the following: At 98% confidence, what is your conclusion? Should the manufacturer produce the new electric powered car? III. Below you are given information on annual income and years of college education. Income (In Thousands) Years of College 28 0 40 3 36 2 28 1 48 4 a. Which variable is the dependent variable? b. Develop a scatter diagram of these variables and explain what it shows regarding the relationship between the variables. c. Compute the correlation coefficient and the coefficient of determination between income and years of college and interpret their values. d. Is there a significant relationship between the variables in the population? Use a .05 level of significance. Be sure to state the null and alternative hypotheses. e. Compute the least squares estimated line ( regression line ). And predict income for 6 years of college f. Compute the standard error of the estimate. g. Develop a 95 percent confidence interval for the mean income when years of college is 4 What is the purpose of linear regression