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4.3. The following table contains ACT scores and the GPA for 8 college students. GPA is based on a 4-pt. scale and has been rounded to one digit after the decimal.,Student 1: GPA=2.8, ACT=21,Student 2: GPA=3.4, ACT=24,Student 3: GPA=3.0, ACT=26,Student 4: GPA=3.5, ACT=27,Student 5: GPA=3.6, ACT=29,Student 6: GPA=3.0, ACT=25,Student 7: GPA=2.7, ACT=25,Student 8: GPA=3.7, ACT=30,a. Previous empirical studies have shown ACT scores is a significant predictor of GPA. Estimate the relationship between GPA and ACT based on the data provided using OLS, i.e., calculate the slope and the intercept of the regression equation.,b. Interpret the slope of the equation you estimated.,c. Does the intercept have a useful interpretation here? Explain.

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