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Compare and evaluate the three simple regression models estimated by Carlton.

User Noah Clark
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Final answer:

To compare and evaluate the three simple regression models estimated by Carlton, follow the steps of drawing scatter plots, calculating least-squares lines, finding correlation coefficients, and determining average CPI.

Step-by-step explanation:

The question is asking to compare and evaluate the three simple regression models estimated by Carlton. To accomplish this, you can follow these steps:

  1. Draw a scatter plot of the data.
  2. Calculate the least-squares line by finding the equation in the form ý = a + bx.
  3. Draw the line on the scatter plot.
  4. Find the correlation coefficient and determine if it is significant.
  5. Find the average CPI for the year 1990.

After completing these steps for each model, you can discuss and record your answers.

User Babr
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