Connie Harris,in charge of office supplies at First Capital Mortgage Corp. ,would like to predict the quantity of paper used in the office photocopying machines per month.She believes that the number of loans originated in a month influence the volume of photocopying performed.She has compiled the following recent monthly data:
a.Develop the least-squares estimated regression equation that relates sheets of photocopy paper used to loans originated.
b.Use the regression equation developed in part (a)to forecast the amount of paper used in a month when 65 loan originations are expected.
Definitions:
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