Discuss the below:
Q. Data are gathered on 40 countries to study variations in birth rate. Consider an equation derived in the study:
where:
Y = birth rate per 1,000 population
X = per capita income
a. Identify the following:
the independent and dependent variables
the regression coefficient
the constant
the correlation coefficient
the coefficient of determination
the standard error of the slope (seb)
the linear regression equation
b. What percent variation in birth rate is associated with per capita income?
c. What is the direction of the relationship between per capita income and birth rate? What evidence supports your answer?
d. What goodness of fit information is provided? How should you interpret this information?