Problem

Economics According to the U.S. Department of Education, the average financial aid award (...

Economics According to the U.S. Department of Education, the average financial aid award (in dollars) for a full-time student is given in the following table for various years:

Year

2000

2005

2008

2009

2010

2011

Amount

2925

3407

3791

4056

4232

4341

(a) Let x = 0 correspond to the year 2000, and find the leastsquares regression line for the data.


(b) Graph the data from the years 2000 to 2011 with the leastsquares regression line.


(c) Does the least-squares regression line form a good fit?


(d) What is the correlation coefficient?

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