For each of the two majors:
1. Draw the scatter diagram of Y = ‘Annual % ROI’ against X = ‘Cost’.
2. Obtain b0 and b1 of the regression equation defined as y ̂ = b0 + b1X and the coefficient of determination (r2) from the Excel regression output.
3. Draw the fitted regression line on the scatter diagram.
4. Calculate the estimated ‘Annual % ROI’ when the ‘Cost’ (X) is $160,000.
5. Test the hypothesis:
. H0: β1 = 0
. Ha: β1 ≠ 0
· Write a paragraph or more on any observations you make about the regression estimates, coefficient of determination, the plots, and the results of your hypothesis tests.