1. Using the following table of relation between X & Y (Y is the independent Variable):xi1234567yi877644– 1Find the estimated regression equation. Show ALL your calculations and the appropriate formula. WRITE Formula in all the questions below and substitute for the numbers, demonstrate your work.Calculate R2. Comment on the Goodness of the Fit. Is it a good fit? Why?Test the hypothesis regarding the significance of the slope ?1 . (Use ? = 0.05) Show ALL the calculations necessary to get your answer.Calculate the values of F, using formula for F statistics (Look at the Formula Sheet). Is F significant? Explain how you know.2.Using the same values as in part (1), Run the Simple Regression Model in Excel. Copy all the relevant parts from the Excel output one by one, and paste it in MS Word, and answer the related question right below that question.a. Write the Regression equation from Excel, and explain why your Independent variable is significant (Use ? = 0.05). Explain.Copy & pated the residual plot from Excel and paste it in MS Word and indicate whether the Homoscedasticity assumption has been met.

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