Can the annual new orders for manufacturing be predicted by raw steel production? Shown here are the annual new orders for 10 years and the raw steel production for the same 10 years. Use these data to develop a regression model to predict annual new orders by raw steel production. Construct a scatter plot and draw the regression line through the points.

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Raw Steel Production (100,000s of net tonnes) 90.6 88.8 89.7 79.7 84.3 88.8 91.3 95.2 95.5 98.5 New Orders (US$ trillions) 2.74 2.87 2.93 2.87 2.98 3.09 3.36 3.61 3.75 3.95