Table gives the real per capita income in thousands of U.S. dollars Y with the percentage of the labor force in agriculture X1 and the average years of schooling of the population over 25 years of age X2 for 15 developed countries in 1981.
(a) Find the least-squares regression equation of Y on X1 and X2.
(b) Interpret the results of part a.
Table Per Capita Income, Labor Force in Agriculture, and Years of Schooling
|
n
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
13
|
14
|
15
|
|
Y
|
6
|
8
|
8
|
7
|
7
|
12
|
9
|
8
|
9
|
10
|
10
|
11
|
9
|
10
|
11
|
|
X1
|
9
|
10
|
8
|
7
|
10
|
4
|
5
|
5
|
6
|
8
|
7
|
4
|
9
|
5
|
8
|
|
X2
|
8
|
13
|
11
|
10
|
12
|
16
|
10
|
10
|
12
|
14
|
12
|
16
|
14
|
10
|
12
|