To find out how the number of housing starts is affected by mortgage rates economist recorded the average mortgage rate and number of housing starts in the large county for the past ten years. These data are listed in dataset. (Round your answer(s) to 3 decimal places.)
a.) Find out the Regression Line
b1=____________(to 2 decimals)
b0=____________(to 1 decimals)
b. What do the coefficients of the regression line tell you about the relationship between mortgage rates and housing starts?
The slope coefficient tells us that for each additional 1 percentage point increase in mortgage rates, the number of housing starts decreasing on average by ___________.