The following data shows the yearly income (in $1000) and age of a sample of seven individuals. Income (in $1000) Age 20 18 24 20 24 23 25 34 26 24 27 27 34 27 ​ Develop the least squares regression...

The following data shows the yearly income (in $1000) and age of a sample of seven individuals.

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1. Develop the least squares regression equation.


2. Estimate the yearly income of a 30-year old individual.


3. Compute the coefficient of determination.


4. Use a t test to determine whether the slope is significantly different from zero. Use level of significance as 0.05.