Question: For a random sample pet owners, the linear relationship between monthly income and monthly spending on their pet(s) has a correlation co-efficient of 0.7. The

For a random sample pet owners, the linear relationship between monthly income and monthly spending on their pet(s) has a correlation co-efficient of 0.7. The distribution for monthly income has a mean of $5700 with a standard deviation of $530. The monthly spending on pets has a mean of $140 with a standard deviation of $75.

Find the intercept and slope that would be used in the regression equation to predict monthly spending on pets from monthly income.

Make sure to only round answers at the final step of any calculations.

Intercept = ___________ Answer to three decimal places; do not include any units. Slope = _______ Answer to three decimal places; do not include any units.

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