Construct a scatter plot using the year number as the x-coordinate and catalog album sales as the y-coordinate. Use 0 ≤ x ≤ 8 as the x-axis interval and 100 ≤ y ≤ 220 as the y-axis interval.
a. Use the scatterplot points to find the equation of the linear regression line for the catalog album sales. Round the slope and the y-intercept to the nearest hundredth.
b. What is the slope of the linear regression line?
c. What are the units of the slope when it is expressed as a rate?
d. Based on the linear regression line, how many millions of catalog albums would you expect in 2016? Round to the nearest tenth of a million.
e. Find the correlation coefficient to the nearest hundredth.
f. Describe the correlation.
g. Graph the linear regression equations from problems 6 and 7 on the same set of axes. Use 0 ≤ x ≤ 8 as the x-axis interval and 100 ≤ y ≤ 220 as y-axis interval. What do you notice about the graphs? What do the graphs tell you in the context of the album sales?