Use the following data provided in the table to calculate the Coefficient of determination R 2 to explain the relationship between Income and Happiness. Income Happiness 5 30 7 60 4 20 5 30 5 40 5 30...

Use the following data provided in the table to calculate the Coefficient of determination R² to explain the relationship between Income and Happiness.

Required:

a)      Estimate the slope (b₁₎ and intercept coefficients (b₀) and write the equation of the regression line.

Step 1:  Calculate b₁

Step 2:  Calculate b₀

Step 3:  Write the equation of the regression line