(Solution) - Using the data in the Excel file Demographics determine if -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Using the data in the Excel file Demographics, determine if a linear relationship exists between unemployment rates and cost of living indexes by constructing a scatter chart. Visually, do there appear to be any outliers? If so, delete them and then find the best fitting linear regression line using the Excel Trend line tool. What would you conclude about the strength of any relationship? Would you use regression to make predictions of the unemployment rate based on the cost of living?