Assignment:
The General Aviation Manufacturers Association has reported annual flying hours and fuel consumption for airplanes with a single, piston-driven engine. Data are in millions of flying hours and millions of gallons of fuel, respectively. Determine the linear regression equation describing fuel consumption as a function of flying hours, then identify and interpret the slope, the coefficient of correlation, and the coefficient of determination. At the 0.05 level of significance, could the population slope and the population coefficient of correlation be zero? Determine the 95% confidence interval for the population slope.
Provide complete and step by step solution for the question and show calculations and use formulas.