The chancellor of a small regional college is concerned about the declining freshmen enrollment at his college. A number of factors have contributed to the decline, but the chancellor believes it is directly related to annual tuition increases. He has collected the following data for the past 8 years:

1. Develop a linear regression equation for forecasting freshman enrollment as a function of the annual tuition.

2. Forecast freshman enrollment if the annual tuition increases to US$9,000 in year 9.

3. Evaluate the €œgoodness of fit€ of the regression equation by computing the values of R², r, and s_yx and interpret the results.

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Year 6. Freshman enrollment 6550 5980 45200 5540 4630 4520 4220 57700 6230 4960 45700 46200 Annual tuition (in U.. Dolars) 32000 37000 46700 52200