The manager of your business unit would like you to explore the potential relationship between the paired data provided in Table 2

The manager of your business unit would like you to explore the potential relationship between the paired data provided in Table 2.   X is the explanatory variate and Y is the response variate.  

Sample	X	Y
1	5.4	7537
2	5.7	5440
3	1.2	4322
4	0.1	1681
5	4.2	5612
6	4.0	5756
7	4.5	7209
8	9.0	6064
9	2.2	5101
10	5.7	7799
11	3.9	6491
12	8.4	6252
13	4.4	6756
14	8.3	8480
15	5.0	5834
16	1.4	4217
17	9.6	8757
18	9.2	8254
19	6.7	6448
20	2.5	3843

  TASKS

1. Create an appropriately formatted and labeled scatter diagram of these data. Discuss what you observe about the pattern of the data and discuss what one should look for to decide whether a simple linear regression model is appropriate.
2. Assuming that a simple linear regression model is appropriate, fit a least squares regression model. Show the detailed equations and partial sums in the equations for the regression coefficients.
3. Test for significance of regression at a = 0.05. (It is your choice what technique you want to use.)
4. Plot the residuals versus and comment on the underlying regression assumptions.  Specifically, does it appear that the equality of variance assumption is satisfied?
5. Plot the residuals on a normal probability plot and comment on the underlying regression assumptions. Specifically, does it appear that the residuals are approximately normal?
6. If a measurement of X has a value of 4.4, determine what the predicted value of Y is and explain what that value represents.
7. Estimate how likely it is that an observed value of Y greater than 6756 occurs when X = 4.4.

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