In-Class Assignment # 4 11.29.10 Answer the following questions on a separate sheet of paper. Big Bank issues a branded credit card to its customers. A main factor in determining whether a credit card will be profitable to the bank is the average monthly balance that a customer will maintain on the credit card that will be subject to finance charges. Bank analysts want to determine whether there is a relationship between the average monthly credit card balance and the monthly income stated on the original credit card application form. The following sample data have been collected from existing credit card customers: Monthly Income Credit Card Balance $ 3583 $ 345 $ 2916 $ 400 $ 4917 $ 0 $ 2333 $ 2342 $ 2501 $ 1370 1. Use the above information. Calculate the slope of the regression equation. 2. Use the above information. Calculate the y-intercept of the regression equation. 3. Calculate the coefficient of determination. 4. Calculate the correlation coefficient.
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