The following data published by the US. Small Business Administration, Ofce of Advocacy, are pairs of the number of business bankruptcies (1000s) and the number of rm births (10,0005) for a six-year period. Solve for the standard error of the estimate (by using the predicted values of yand the residuals) and comment on it. Business Firm Births Bankruptcies (10,000) x (1,000) y 58.1 34.3 55.4 35.0 57.0 38.5 58.5 40.1 57.4 35.5 58.0 37.9 *{Raund your answer to 4 decimal places.) \"(Round your answer to the nearest integer.) *\"( Round your answer to 1 decimal place.) 5e: 2.3075 * This standard error of the estimate indicates that the regression model is about 18.48 "96 of the time. In this 5/6 V) or l 83.3 \"'96 of the residuals are within this standard error ofthe estimate. particular problem, Is it possible to predict the annual number of business bankruptcies by the number of rm births [business starts) in the United States? The following data published by the US. Small Business Administration, Ofce of Advocacy. are pairs of the number of business bankruptcies (10005) and the number of rm births (10,0005) for a six-year period. Use these data to develop the equation of the regression model to predict the number of business bankruptcies by the number ofrm births. Discuss the meaning of the slope. Business Bankruptcies Firm Births (1000) (10,000) 34.3 58.1 35.0 55.4 38.5 57.0 40.1 58.5 35.5 57.4 37.9 58.0 Do not round the intermediate values. (Round your answers to 3 decimal places.) 3'2= -3.857 + 0.878 x