The following data were used to investigate the relationship between the number of cars in service (1000s) and the annual revenue ($millions) for six smaller car rental companies (Auto Rental News website). 

With x = cars in service (1000s) and y = annual revenue ($ millions), the estimated regression equation is ŷ = −17.005 + 12.966x. For these data SSE = 1043.03. 

a. Compute the coefficient of determination r². 

b. Did the estimated regression equation provide a good fit? Explain. 

c. What is the value of the sample correlation coefficient? Does it reflect a strong or weak relationship between the number of cars in service and the annual revenue?

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Cars Revenue Company (1000s) ($ millions) U-Save Auto Rental System, Inc. Payless Car Rental System, Inc. 11.5 118 10.0 135 ACE Rent A Car 9.0 100 Rent-A-Wreck of America 5.5 37 Triangle Rent-A-Car 4.2 40 Affordable/Sensible 3.3 32