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Question Three a) What is the significance of R and R2 of a regression model? b) The data below show consumption of chicken and its real price at GIMPA Consumption (Y) 2.86 3.15 2.34 2.67 3.4 6.3 2.3 4.2 5.6 3.9 Price (X) 12 14 14.5 13.4 15.2 20.2 12 15.3 17.2 15.1 Calculate 1 . Does the real price of chicken depend on consumption or does consumption depend on the real price of chicken? Do you expect a positive or a negative relationship between these two variables? ii. E x , E x , E Y , [ Y , ExY 111. Sar, Spy, S, and r -correlation coefficient iv. Find the least squares regression line by choosing appropriate dependent and independent variables based on your answer in part ili. V. Interpret the meaning of the values of a and b calculated in part iv. vi. Plot the scatter diagram and the regression line. vii. Calculate the y and explain what it means. Vill. Predict the monthly consumption for a student with 10 Ghana cedis. ix. Compute the standard deviation of errors. X. Construct a 90% confidence interval for B. xi. Test at the 5% significance level whether B is negative