The best straight line through the Massachusetts funding/graduation rate data described in Question 11.2.7 has the equation y =81.088+0.412x, where s = 11.78848.
(a) Construct a 95% confidence interval for β1.
(b) What does your answer to part (a) imply about the outcome of testing H0: β1 = 0 versus H1: β1 = 0 at the α = 0.05 level of significance?
(c) Graph the data and superimpose the regression line. How would you summarize these data, and their implications, to a meeting of the state School Board?