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For Exercises 37–51, do the following for the indicated data sets from the Section 4.1 exercises:

  1. Calculate the slope b1 and the y intercept b0 of the regression line.
  2. State the regression equation in words.
  3. Interpret the value for the slope b1 of the regression line, in terms of the variables from the particular exercise.
  4. Interpret the value for the y intercept b0 of the regression line, in terms of the variables from the particular exercise.

Question 4.136

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38. Does It Pay to Stay in School? The U.S. Census Bureau reported the following unemployment rates (y) associated with the given years of education (x).

x=years of education y=unemployment rate
5.0 16.8
7.5 17.1
8.0 15.3
10.0 20.6
12.0 11.7
14.0 8.1
16.0 3.8
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