Question: (PLEASE SHOW WORK. PLEASE SHOW ALL THE FORMULAS USED AND WHAT THEY WERE USED FOR) To determine how the number of housing starts is affected

(PLEASE SHOW WORK. PLEASE SHOW ALL THE FORMULAS USED AND WHAT THEY WERE USED FOR)

To determine how the number of housing starts is affected by mortgage rates an economist recorded the average mortgage rate and the number of housing starts in a large county for the past 10 years. These data are listed here.

x y

8.5 115

7.8 111

7.6 185

7.5 201

8 206

8.4 167

8.8 155

8.9 117

8.5 133

8 150

Estimate with 90% confidence the mean monthly number of housing starts when the mortgage interest rate is 7%.

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