Assignment:
For a sample of 8 employees, a personnel director has collected the following data on ownership of company stock versus years with the firm.
x = Years y = Shares
6 300
12 408
14 560
6 252
9 288
13 650
15 630
9 522
a. Determine the least-squares regression line and interpret its slope.
b. For an employee who has been with the firm 10 years, what is the predicted number of shares of stock owned?
Provide complete and step by step solution for the question and show calculations and use formulas.