use the following information: The Organization for Economic Cooperation and Development (OECD) consists of 20 industrialized countries. For these nations, the prediction equation relating y = child...

Extracted text: use the following information: The Organization for Economic Cooperation and Development (OECD) consists of 20 industrialized countries. For these nations, the prediction equation relating y = child poverty rate (in percentage points) to x = social expenditure as a percentage of gross domestic product (GDP) was ŷ = 22-1.3x in 2000. In 2000, the actual child poverty rate ranged from 2.8% (in Finland) to 21.9% (in the U.S.). Social expenditure as a percentage of GDP ranged from 2% (in the United States) to 16% (in Denmark). What is the estimated value of the y-intercept (a) and the estimate of the slope(b) in the linear prediction equation provided above (ŷ = 22-1.3x)? Also, interpret both y-intercept and slope. What is the residual for US? y-intercept: Interpretation: slope: Interpretation: Residual for US