Given below are data on the number of business establishments (millions) and the self-employment rate (%) released by the Small Business Administration, Office of Advocacy, for a 21-year period of U.S. business activity. Develop a regression model to predict the self-employment rate by the number of business establishments. Use this model to predict the self-employment rate for a year in which there are 7.0 (million) business establishments. Discuss the strength of the regression model. Use these data and the regression model to compute a Durbin-Watson test to determine whether significant autocorrelation is present. Let alpha be.05.

Transcribed Image Text:

f ne 6) 1 0 1 2 2 0 9 0 2 1 0 1 8 0 1 9 87529 (9 8 8 8 8 8 8 7 8 8 8 8 8 7 8 8 7 7 7 7 7 6 16929767266037287245 159774903958320748840 0 363671676650919284180 483010031070100139407 556357890112345678900 444555556666666666677 N ta (n