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Use the least squares method to fit a simple linear model that relates the annual number of Australian wines sold to the annual growth rate
Use the least squares method to fit a simple linear model that relates the annual number of Australian wines sold to the annual growth rate in Canada. In your analysis, state what your model is, and determine whether the independent variable is significant or not at an ?-level of significance = 5%).
- How effective is the independent variable in predicting the movement of the dependent variable?
- Calculate a 90% confidence interval estimate for the true regression slope
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