Consider the following data. x XXXXXXXXXX y XXXXXXXXXX We want to predict y based on observations of x. Answer the following questions. P= Sum Px = 20; Py = 12; Pxy = 70; Px P 2 = 110; and y 2 = 46....

Consider the following data.
x 3 4 6 7
y 1 2 4 5
We want to predict y based on observations of x.

Answer the following questions.  P= Sum

Px = 20; Py = 12; Pxy = 70; Px P 2 = 110; and y 2 = 46. n=4

(a)  Calculate the sample correlation coefficient r.

(b)  Calculate the estimates for the y-intercept, βˆ 0, and the slope, βˆ1, for the regression line.

(c) Using what you get in part (b), write down the equation of the regression line correctly.

(d) Find the coefficient of determination R2. Based on R2  is the regression line useful for us to do prediction?

(e) Estimate y for x=5.5