No. of Construction Sales Year Permits Issued (000) (1,000,000) 2003 6.50 10.30 2004 6.20 10.10 2005 6.60 10.50 2006 7.30 10.80 2007 7.80 11.20 2008 8.20 11.40 2009 8.30 11.30 Which variable is the...

Extracted text: No. of Construction Sales Year Permits Issued (000) (1,000,000) 2003 6.50 10.30 2004 6.20 10.10 2005 6.60 10.50 2006 7.30 10.80 2007 7.80 11.20 2008 8.20 11.40 2009 8.30 11.30 Which variable is the dependent variable and which is the independent variable? (b) Determine the estimated regression line. (c) Test the hypothesis (at the .05 significance level) that there is no relationship between the variables. (d) Calculate the coefficient of determination. Give an economic interpretation to the value obtained. (e) Perform an analysis of variance on the regression including an F-test (at the .05 significance leve!) of the overa!! significance of the results. (f) Suppose that 8,000 construction permits are expected to be issued in 2010. What would be the point estimate of Phoenix Lumber Company's sales for 2010?