The homeownership rate in the U.S. was 62.9% In 2009. In order to determine if homeownership is linked with Income, 2009 state- level data on the homeownership rate (Ownership in %) and median household Income (Income in $) were collected. A portion of the data is shown in the accompanying table. State Alabama Alaska Ownership 68.6 Income 37,000 63.6 58,624 1 Wyoming 69.6 49,490 Click here for the Excel Data File a-1. Estimate the model Ownership = 60 + 61 Income + E. (Negative values should be Indicated by a minus sign. Round your answers to 4 decimal places.) [If you are using R to obtain the output, then first enter the following command at the prompt: options(sclpen-10). This will ensure that the output is not in scientific notation.] %media: 21formula807.mm1% = a-2. Interpret the model. + Income O For a $1,000 Increase In Income, homeownership rate is predicted to decrease by 0.01% O For a $1,000 Increase In Income, homeownership rate is predicted to decrease by 0.1% O For a $1,000 Increase In Income, homeownership rate is predicted to decrease by 0.001%. O For a $1,000 Increase In Income, homeownership rate is predicted to decrease by 0.0001%. b. What is the standard error of the estimate? (Round your answer to 2 decimal places.) Standard error c. Interpret the coefficient of determination. O 1.87% of the sample variation in y is explained by the estimated regression equation. O 1.87% of the sample variation in x is explained by the estimated regression equation. O 2.87% of the sample variation in x is explained by the estimated regression equation. O 0.87% of the sample variation in y is explained by the estimated regression equation. Saved