Refer to Exercise 11.23 and the study of the seemingly disproportionate number of software millionaires born around the year 1955.
a. Find the coefficient of determination for the simple linear regression model relating number (y) of software millionaire birthdays in a decade to total number (x) of U.S. births. Interpret the result.
b. Find the coefficient of determination for the simple linear regression model relating number (y) of software millionaire birthdays in a decade to number (x) of CEO birthdays. Interpret the result.
c. The consulting statistician argued that the software industry appears to be no different from any other industry with respect to producing millionaires in a decade. Do you agree? Explain.