An economist wants to determine the relation between onefs FICO
score, .., and the interest
rate (in percent) of a 36-month auto loan, ...
Credit Score, .. Interest Rate (percent), ..
545 18.982
595 17.967
640 12.218
675 8.612
705 6.680
750 5.150
a. What is the best fit line that could be used to predict the
interest rate?
b. Interpret the slope and vertical intercept.
c. Plot the residuals.
d. Is your best fit line a good fit for this data? Explain.
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