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To determine how the number of housing starts is affected by mortgage rates an economist recorded the average mortgage rate and the number of housing
To determine how the number of housing starts is affected by mortgage rates an economist recorded the average mortgage rate and the number of housing starts in a large county for the past 10 years. These data are listed here. Rate 8.5 7.8 7.6 7.5 8.0 8.4 8.8 8.9 8.5 8.0 Starts 114 112 184 202 205 168 154 118 132 151 (a) Determine the regression line. (Round your answers to two decimal places.) 1* + (b) What do the coefficients of the regression line tell you about the relationship between mortgage rates and housing starts? (Enter your numeric answer as a positive number. Round your answer to two decimal places.) The slope coefficient tells us that for each additional 1 percentage point increase in mortgage rates, the number of housing starts decreases v on average by The y-intercept cannot be safely interpreted
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