6:03Consider the following data set that containsinformation about a sample of ten U.S. states in 2022providing the gas price per gallon and price of a gallonof milk for each state.rice of a gallon of milk, [dollar:price of agallon of milk(dollars)14.0824.1234.2544.3154.3364.474.6984.7194.81104.95The scatter plot that summarizes the data with regardto the gas price per gallon as the input variable andthe price of a gallon of milk as the output variable isprovided below.stategas priceper gallon(dollars)3.183.454.584.884.985.195.235.425.585.6415gas price per gallon, [dollars]a. Is there an association between the gas price pergallon and the price of a gallon of milk of a state? Ifyes, is it positive or negative?There appears to be Select an answerthe two variables.myopenmath.combetween b. Use technology to find the equation of the line ofbest fit, y = mx +b, and the coefficient ofdetermination and interpret the slope, the verticalintercept, and the coefficient of determination.(Round the answers to 3 decimal places.)i. m =Select an answer;ii. bSelect an answer;=iii.7²=Select an answerSelect an answer is theSelect an answer is thehence there is alinear relation.

Regression analysis is the method of predicting the value of the one variable when the value of the other variable is known. It also gives the relationship between the variables. The coefficients of the equation is calculated by the method of the least square.The independent variable is the gas price per gallon..The dependent variable is the price of a gallon of milk..The data isXY3.184.083.454.124.584.254.884.314.984.335.194.45.234.695.424.715.584.815.644.95The scatter plot on the data from Excel From the scatter plot, it is indicated that there is a positive relationship between the variables and the relationship is positive. When value of one variable increases implies the value of the other variable also increases.The regression equation on the data,The Excel procedure for estimating the regression coefficient isStep 1: In the EXCEL sheet, enter Gas price per gallon in one column and enter price of gallon of milk in one column.Step 2: In Data, select Data Analysis and choose Regression.Step 3: In Input Variable Y Range: select variable..Step 4: In Input Variable X Range: select variable..Step 5: Click Ok.The output of the regression isfrom the last table, The coefficient columns indicate the coefficient of the regression model. Indicates the slope parameter which is in the output indicates the variable. indicates the intercept parameter.The slope parameter indicates when the gas price per gallon changes by one unit then there is an average change in the price of gallon of milk by .The intercept parameter indicates the expected change in the price of a gallon of milk when the gas price per gallon is zero.The coefficient of determination from the output iswhich indicates that the variation of the dependent variable is explained by the independent variable.It indicates the strong relationship between the variables.The scatter plot indicates the positive relationship between the two variables. is the slope coefficient which indicates the change in the price of a gallon of milk when there is a unit change in the gas price per gallon. is the intercept coefficient which indicates the change in the price of a gallon of milk when the gas price per gallon is zero. which indicates a strong linear relationship.