You have a simple random sample of city-level data for production and new dwelling permits for 130 cities. Assume that all conditions required for least-squares regression are satisfied.

Unit10.csv

Use R to estimate the least-squares regression line with permits issued for new dwellings as the explanatory variable (x) and production as the response variable (y).

Then, answer the following questions:

(i) Write the least-squares regression line.

(ii) Interpret the slope coefficient from the least-squares regression line.

(iii) What is the predicted production value for a city with 105 new dwelling permits?

(iv) What is the residual for a city with 67 new dwelling permits?

TIP: To find the actual value for a city with 67 new dwelling permits, you will need to look at the data.

(v) What percent of the variation in production is explained by dwelling permits