Shown below are dollar figures for commercial and industrial loans at all commercial banks in the United States as recorded for the month of April during a recent 9-year period and published by the Federal Reserve Bank of St. Louis. Plot the data, fit a trend line, and discuss the strength of the regresssion model. In addition, explore a quadratic trend and compare the results of the two models.
addition, explore a quadratic trend and compare the results of the two models.
Year Loans ($ billions)
1 ........... 741.0
2 ........... 807.4
3 ........... 871.3
4 ........... 951.6
5 ........... 1,033.6
6 ........... 1,089.8
7 ........... 1,002.6
8 ........... 940.8
9 ........... 888.5