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Personal debt According to The World Almanac and Book of Facts 2004, the debt per capita for the years 1990-2001 gives the following scatterplot:

Regression output gives the equation of the regression line as
= -2,231,226 + 1128(Year) with R2 = 98.8%.

a. What is the response variable?
b. What is the correlation coefficient r?
c. Explain in context what the slope of the line means.
d. Explain in context what R2 = 98.8% means.
e. You decide to take a look at a residuals plot before making any predictions. Based on the
following residuals plot, does linear regression seem appropriate for these data? Explain.
Textbook 
Stats: Modeling the World

Stats: Modeling the World


Edition: 4th
Authors:
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urbacoreurbacore
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