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1) Given the following data and Excel output, what is the English meaning of the numbers?

Years of Education Annual Income (000's)
6 10
7 13
8 15
7 14
9 16
12 21
11 22
14 20
16 19
20 45
13 35
15 36
Regression Statistics
Multiple R 0.837129
R Square 0.700785
Adjusted R Square 0.670863
Standard Error 6.192691
Observations 12

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