Question: (a) Use a graphing calculator to fit a regression line to the data in Exercise 66. In Exercise 66 Year, x Credit-Card Debt Per Household,

(a) Use a graphing calculator to fit a regression line to the data in Exercise 66.
In Exercise 66
Year, x Credit-Card Debt
Per Household, y
1992, 0 .............................................. $ 3,803
1996, 0 ........................................ 6,912
2000, 8 ........................................ 8,308
2004, 12 ........................................ 9,577
2008, 16 ........................................ 10,691
2011, 19 ........................................ 14,750
(b) Estimate average credit-card debt per U.S. house hold in 2014 and compare the result with the estimate found with the model in Exercise 66.
(c) Find the correlation coefficient for the regression line and determine whether the line fits the data closely.

Step by Step Solution

★★★★★

3.34 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a y 494 3341853x 4145880511 where x is t... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

864-L-A-L-S (112).docx

120 KBs Word File

Students Have Also Explored These Related Linear Algebra Questions!

In 1900, 0.2% of the U.S. population, or 122,000 people, were ages 85 and older. This number grew to 5,751,000 in 2010. The table on the following page lists data regarding the percentage of the U.S....

In an economics class, students were given a final exam at the end of the course. Then they were retested with an equivalent test at subsequent time intervals. Their scores after time x, in months,...

After door-to door canvassing, census workers determine the number of unoccupied homes. The table below lists the number of homes, in millions that were unoccupied in four census years. Year, x...

(a) Use a graphing calculator to fit a regression line to the data in Exercise 61. (b) Estimate the number of Internet users worldwide in 2013 and compare the value with the result found in Exercise...

(a) Use a graphing calculator to fit a regression line to the data in Exercise 62. In Exercise 62 Year, x Percentage of Deaths Followed by Cremation, y 2005, 0...

(a) Use a graphing calculator to fit a regression line to the data in Exercise 63. In Exercise 63 Year, x Total U.S. Expenditures On pets (in billions) 1991, 0...

Answer Questions in Handout 2-5 Resource needed for Handout Questions Included Below: Handout 2-5 Please respond to the following questions. 1. Please read page 95. Look closely at the chart for...

Set Student Name: 1. Describe the relationship between two variables that have a correlation coefficient value: a. Near -1 b. Near 0 c. Near 1 2. Data was collected where a weightlifter was asked to...

In Exercises 1 - 16, plot the point given in polar coordinates and then give three different expressions for the point such that (a) r 0 and 0 (c) r > 0 and 2 9. (20, 3) In...

ITEM #1 LEARNING FROM THE HEADLINES True to the Learning from the Headlines approach of this course, watch the Part Three Intro Video after you read the short article the video highlights. Notice...

The Model Company is to begin operations in April. It has budgeted April sales of $58,000. May sales of $62,000, June sales of $68,000, July sales of $70,000, and August sales of $66,000, Note that...

Return to the Knowledge King data in Short Exercise. Knowledge King had 10,000 shares of common stock outstanding during 2010. Knowledge King declared and paid preferred dividends of $1,000 during...

The corporate cost of capital is a ( n ) _ _ _ _ _ _ that will be used as the basis for estimating project costs of capital.

20. The project archives you are reviewing show that the project has had several changes to the start and finish dates of the approved baseline schedule. These changes are known as: A. Schedule...

The converse of the Pythagorean theorem is also a true statement: If the sum of the squares of the lengths of two sides of a triangle is equal to the square of the length of the third side, then the...

Soosies Cookie Company had fixed costs of $1250 and variable costs of $4.25 per dozen gourmet cookies that were baked and packaged for sale. Write an equation that can be used to determine the total...

Richard is considering relocating to an assisted living facility. He learns that there is an initial community fee of $2250 and a monthly charge of $3380 for level-one care. Write an equation that...

QUESTION 5 Monthly electric bills in NewJersey for a bellshaped distribution with a mean of $1 09 and a standard deviation of $37. a) About what percent of the bills will be between $72 and $146? b)...

Question 9 5 pts Cooper Tire has 45 million shares of common stock outstanding and 2 million bonds. The par value of the bonds is $1000. Cooper Tire's common stock is selling for $125 and its bonds...

Cam you please hand write. please i need the answers 13) A loan of $5,600 with an interest rate of 14% compounded annually can be repaid in 3 equal annual payments of $2,412.10. Complete the...