Business, 22.04.2021 19:10 NikkyZ9487

Many countries, especially those in Europe, have significant gold holdings. But many of these countries also have massive debts. The following data show the total value of gold holdings in billions of U. S. dollars and the debt as a percentage of the gross domestic product for nine countries (WordPress and Trading Economics websites, February 24, 2012). Country Gold Value ($ billions) Debt (% of GDP)
China 63 17.7
France 146 81.7
Indonesia 203 83.2
Germany 33 69.2
Italy 147 119
Netherlands 36 63.7
Russia 50 9.9
Switzerland 62 55
United States 487 93.2
a. Using the entire data set, develop the estimated regression equation that can be used to predict the debt of a country given the total value of its gold holdings (to 4 decimals (to 4 decimals).
b. Suppose that after looking at the scatter diagram in part (a) that you were able to visually identify what appears to be an influential observation.
c. Does this approach confirm the conclusion you reached in part (b)? The slope of the estimated regression equation is now observation has a big observation as compared to a value of when this observation is included.

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