Can the percentage of the workforce who are engineers in each U.S. state be predicted by the amount of money spent in on higher education (as a percent of gross domestic product), on venture capital (dollars per $1000 of gross domestic product) for high-tech business ideas, and state funding (in dollars per student) for major research universities? Data for all 50 states and a software package revealed the following results:

(a) Write the equation predicting the percent of engineers in the workforce.

(b) For a state that has $1 per $1000 in venture capital, spends $10,000 per student on funding for major research universities, and spends 0.5% of its GDP on higher education, what percent of engineers do you expect to see in the workforce?

(c) If the state in part (b) actually had 1.5% engineers in the workforce, what would the residual be?

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std. Errort value Pr (>|t|) 6.708 2.5e-08 *** 2.433 0.0189 * 0.286 0.7763 -1.673e-01 2.595e-01 -0.645 0.5223 Estimate 1.051e+00 1.567e-01 9.514e-02 3.910e-02 (Intercept) Venture cap state funding 4.106e-06 1.437e-05 Higher.eD Residual standard error: 0.3007 on 46 degrees of freedom Multiple R-squared: 0.1622, Adjusted R-squared: 0.1075 F-statistic: 2.968 on 3 and 46 DF,p-value: 0.04157