The value of the slope of the line and the intercept of the line

1.Triple A Construction Company renovates old homes in Albany. Over time, the company has found that its dollar volume of renovation work is dependent on the Albany area payroll. The figures for Triple A's revenues and the amount of money earned by wage earners in Albany for the past six years are presented in the table below.Economists have predicted the local area payroll to be $600 million next year, and Triple A wants to plan accordingly.

TRIPLE

A'S SALES (Y)LOCAL PAYROLL(X)

($100,000s)($100,000,000s)

63

84

96

54

4.52

9.55

What is the forecast estimate of Triple A SALES?Interpret the result.[4Marks]

b.Calculate the Correlation Coefficient.[Interpret the result][4 Marks]

c.Calculate the Coefficient of determination.. [ Interpret the result] [2 Marks]