The following data reports the income rate ($1000) and average expense ($1000) for the large area in the U.S
| area |
income rate ($1000) |
average expense ($1000) |
| New York |
80.7 |
70.5 |
| Los Angeles |
67.9 |
54.7 |
| Chicago |
72.0 |
61.1 |
| Boston |
73.5 |
62.2 |
| Seattle |
73.4 |
65.0 |
| San Francisco |
78.7 |
66.8 |
| Dallas |
69.5 |
58.7 |
|
|
|
1. Compute the value of b0 and b1
2. Find the regression equation
3. Predict the income rate for an area with an average expense of $75
4. Computed the coefficient of correlation