The following data on fertility rates were obtained from Eurostat on seven European countries in 2010. The covariance between the mean age at childbearing and the total fertility rate is -0.06. Using this information and the information provided in the table below:
A. Calculate the Y-intercept and the slope and write down the linear regression equation which summarizes the relationship between these two variables.
Denmark: 30.29, 1.83
Ireland: 30.66, 1.90
Greece: 29.87, 1.39
Spain: 30.88, 1.38
France: 29.72, 2.00
Italy: 30.87, 1.32
Netherlands: 30.58, 1.70
Mean: 30.41, 1.65
Standard Deviation: 0.47, .28
Variance: .22, .08
B. Now calculate the coefficient of determination for the regression equation you just presented, and interpret this quantity.