The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in millions) are shown in the table. The equation of the regression line is y=48.314x + 18,056.64. Complete parts a and b. Issues, x 415 458 681 481 483 377 66 67 197 152 Proceeds, 19,061 29,468 43,357 30,436 65,907 65,385 20,287 10,145 31,744 27,934 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.)
The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in millions) are shown in the table. The equation of the regression line is y=48.314x + 18,056.64. Complete parts a and b. Issues, x 415 458 681 481 483 377 66 67 197 152 Proceeds, 19,061 29,468 43,357 30,436 65,907 65,385 20,287 10,145 31,744 27,934 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.)
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
Transcribed Image Text:The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in millions) are shown in the table. The equation of the
regression line is ŷ = 48.314x + 18,056.64. Complete parts a and b.
Issues, x 415 458 681 481 483 377 66 67 197 152 L
Proceeds, 19,061 29,468 43,357 30,436 65,907 65,385 20,287 10,145 31,744 27,934
ly
(a) Find the coefficient of determination and interpret the result.
(Round to three decimal places as needed.)
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