(a) Examine the data. Make a scatterplot with coffee price as the explanatoryvariable
Chapter 0, Problem 24.1(choose chapter or problem)
(a) Examine the data. Make a scatterplot with coffee price as the explanatoryvariable. What are the correlation r and the equation of the least-squaresregression line? Do you think that coffee price will allow good prediction of forestlost?(b) Explain in words what the slope of the population regression line would tellus if we knew it. Based on the data, what are the estimates of and the intercept of the population regression line?(c) Calculate by hand the residuals for the five data points. Check that their sumis 0 (up to roundoff error). Use the residuals to estimate the standard deviation of percents of forest lost about the means given by the population regression line.You have now estimated all three parameters.
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