Question: Please help answer this question 3) Since 1985, average mortgage interest rates have fluctuated from a low of 4.25% to a high of 14%. Is

Please help answer this question

Please help answer this question 3) Since 1985, average mortgage interest rates

3) Since 1985, average mortgage interest rates have fluctuated from a low of 4.25% to a high of 14%. Is there a relationship between the amount of money people borrow and the interest rate that's offered? Below is a scatterplot of Mortgage Loan Amounts in t US (in thousands of dollars) versus Interest Rate(in percent) at various times over the past 26 years. a) Mortgage Loan Amount ($000) 200 150 100 6 8 10 Interest Rate (%) rite a sentence describing the relationship between Mortgage Loan Amount and Interest Rate. Give yo answer in terms of direction, form, and strength. (3 points) b) The correlation coefficient for this data is . Explain how this supports your description in part (2 points) c) Which is the response variable and which is th explanatory variable? (1 point) d) Suppose the linear regression model for this d is . Interpret the slope in the context of this scenari

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