Question: 12.97 Based on data from 63 counties, the following model was estimated by least squares: yn = 0.58 - .052x1 - .005x2 R2 = .17

12.97 Based on data from 63 counties, the following model was estimated by least squares:

yn = 0.58 - .052x1 - .005x2 R2 = .17 1.0192 1.0422 where yn = growth rate in real gross domestic product x1 = real income per capita x2 = average tax rate, as a proportion of gross national product The numbers in parentheses under the coefficients are the estimated coefficient standard errors.

a. Test against a two-sided alternative the null hypothesis that b1 is 0. Interpret your result.

b. Test against a two-sided alternative the null hypothesis that b2 is 0. Interpret your result.

c. Interpret the coefficient of determination.

d. Find and interpret the coefficient of multiple correlation.

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