b. Use technology to find the equation of the line of best fit, y=mx+b, and the coefficient ofdetermination and interpret the slope, the vertical intercept, and the coefficient of determination. (Roundthe answers to 3 decimal places.)i. m 0.267 ✔ dollars/dollarthe change of price of a dozen eggs per 1 unit of change in gas price per gallon ✓ii. b 3.253dollarsO is thethe price of a dozen eggs when the gas price per gallon is zeroo is theiii.7². 0.915 ✔hence there is a strongAnswer:o ;Answer:;o linear relation.Part 2 ofc. Use the line of best fit to:i. estimate the price of a dozen eggs of a state in which the gas price per gallon is 4.3 dollars.dollars (Round the answer to the nearest unit.)ii. estimate the gas price per gallon of state in which the price of a dozen eggs is 4.1 dollars.dollars (Round the answer to the nearest unit.)Part 3 of 3 Consider the following data set that contains information about a sample of ten U.S. states in 2022providing the gas price per gallon and price of a dozen eggs for each state.stateprice of a dozen eggs (dollars)12345678910gas price per gallon(dollars)3.13price of a dozen eggs, [dollars3.663.763.914.454.995.075.575.595.95The scatter plot that summarizes the data with regard to the gas price per gallon as the input variable andthe price of a dozen eggs as the output variable is provided below.3●●4.084.094.234.444.524.544.644.694.784.8164gas price per gallon, [dollars]a. Is there an association between the gas price per gallon and the price of a dozen eggs of a state? If yes,is it positive or negative?There appears to be a positive association ✓ between the two variables.

Entered the paired 10 observations on Excel as follows:.In the given scatter plot, each of the dots represents each of the paired observations of "gas price" and the "price of dozen eggs" on (x,y) coordinate. From the visual observation, as the gas price increases, an increase in the price of a dozen eggs is also observed. As the change in one variable (say gas price) is associated with an incraese in another variable (i..e, the price of a dozen eggs), a positive association is claimed. Part (b)Obtain the regression coefficient using Excel:Select the "Data Analysis" from the Data Tab. Select "Regression" from the "Analysis Tools" as follows.Click "OK". Determine the ranges as follows. And click "OK". The regression output is obtained as follows:The slope coefficient (refer to cell B18) is obtained as ""m=0.267".It is interpreted that, for each additional unit increase in gas price, the price of a dozen eggs increases (as the slope, m=0.267 is a positive value) by 0.267 dollars. Part (ii)The y-intercept value is obtained as y=3.253.It is interpreted that, for gas price per gallon of $0, the price of a dozen eggs is 3.253 dollars. Part (iii)The coefficient of determination, r2=0.915 (refer to the cell B5).As 91.5% (i.e., 0.915) of the variance in the dependent variable "price of dozen eggs" is explained by the independent variable "gas price per gallon", a strong linear association is interpreted.Part (c)The regression question is: y=0.267x+3.253.Part (i) When the gas price per gallon is $4.3, i.e., x=4.3, the estimated price of a dozen eggs is:y^=(0.267×4.3)+3.253=$4.4011≈$4.Part (ii) When the price of a dozen eggs as $4.1, i.e., y=4.1, the gas price per gallon is:4.1=(0.267x)+3.253⇒x=4.1−3.2530.267=$3.172284644 ≈$3(a) There appears to be a positive association between the two variables.(b) (i) m=0.267 dollar is the change in the price of a dozen eggs for a unit change in gas price.(ii) b=3.253 dollars is the price of a dozen eggs when the gas price is zero dollars per gallon.(iii) r2=0.915; hence there is a strong linear relation.(c) (i) When the gas price per gallon is $4.3, the estimated price of a dozen eggs is $4.(ii) When the price of a dozen eggs as $4.1, the gas price per gallon is $3.