Location Yield Nitrogen (bu/acre) (Ibs/acre) Plot 1 207 89 Plot 2 225 93 Plot 3 176 70 Mean 202.6 84.0 Std. Dev. 24.8 12.3 Covariance 298 1. (6 points) Your boss wants to understand the relationship between the use of nitrogen fertilizer and the amount of corn produced per acre (yield). Name (but do not calculate) three statistics you could use to describe this relationship. 2. (3 points) Which of these statistics could be used to judge whether there is a statistically significant relationship between corn yield and nitrogen fertilizer use? 3. (4 points) Suppose you wanted to estimate a regression model of the relationship between these two variables. Which variable would you define as the dependent variable (y) and which would you define as the independent or explanatory variable (x)? Defend your choice. 4. (14 points) Calculate the slope and intercept coefficients of the regression model using the data above. 5. (4 points). How much would you predict that a 10 pound increase in nitrogen fertilizer would increase corn yield? 6. (4 points) The farmer who owns these plots is interested in applying 200 pounds of nitrogen per acre to her corn crop. What yield would you predict? 7. (4 points) What limitations or cautions would you have about the prediction from the previous question? 8. (6 points) Calculate the residual for plot 2. (3 points) How would you interpret or explain the meaning of this number using words