The number of initial public offerings of stock issued in a 10-year period and the total proceeds these offerings (in millions) are shown in the table. The equation of the regression line is y = 43.977x+19,528.57. Complete parts a and b Issues, x 424 457 695 500 499 379 55 74 180 158 Proceeds, 18,716 29,004 42,559 30,325 67,231 65,155 21,100 12,473 31,455 27,712 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.)

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The number of initial public offerings of stock issued in a 10-year period and the total proceeds
these offerings (in millions) are shown in the table. The equation of the regression line is y = 43.977x+ 19,528.57. Complete parts a and b.
379 55
18,716 29,004 42,559 30,325 67,231 65,155 21,100 12,473 31,455 27,712
Issues, x
424
457
695 500
499
74
180
158
Proceeds.
(a) Find the coefficient of determination and interpret the result.
(Round
three decimal places as needed.)
Transcribed Image Text:The number of initial public offerings of stock issued in a 10-year period and the total proceeds these offerings (in millions) are shown in the table. The equation of the regression line is y = 43.977x+ 19,528.57. Complete parts a and b. 379 55 18,716 29,004 42,559 30,325 67,231 65,155 21,100 12,473 31,455 27,712 Issues, x 424 457 695 500 499 74 180 158 Proceeds. (a) Find the coefficient of determination and interpret the result. (Round three decimal places as needed.)
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