The Oklahoma State Department of Motor Vehicles needs to predict the number of new license plates that will be needed next year. The number of immigrants to the state is thought to be a good variable on which to base predictions. A regression of new plates issued in a year (Y) on the number of immigrants to the state in the same year (X) for the last 50 years shows the following results:
Ŷ = 57162 + 1.27X

Based on these results, answer the following questions:
(a) Immigration to Oklahoma next year is expected to be 34,894. What is the best prediction of the number of new license plates that will be needed? Place a 95 percent confidence limit around your estimate.
(b) How good a predictor of new license plates is immigration into the state?