A May 2015 Wall Street Journal article indicated that 2015 college graduates had the highest average student
Question:
A May 2015 Wall Street Journal article indicated that 2015 college graduates had the highest average student debt ever, at slightly more than $35,000 per student.
The following data show the average student debt for the years 1993 through 2015 (source: Jeffrey Sparshott,
“Congratulations, class of 2015. You’re the most indebted ever (for now),” http://blogs.wsj.com, May 8, 2015).
Year Average Student Loan Debt
(Rounded to nearest $000)
1993 $10,000 1994 $11,000 1995 $12,000 1996 $13,000 1997 $14,000 1998 $15,000 1999 $16,000 2000 $17,000 2001 $17,000 2002 $17,000 2003 $18,000 2004 $18,000 2005 $20,000 Year Average Student Loan Debt (Rounded to nearest $000)
2006 $21,000 2007 $22,000 2008 $24,000 2009 $25,000 2010 $26,000 2011 $28,000 2012 $30,000 2013 $31,000 2014 $33,000 2015 $35,000 Use Excel 2016 to forecast the average debt for 2017 and 2018 college graduates. Discuss the model that Excel 2016 has selected as the best model.
Step by Step Answer:
Business Statistics
ISBN: 9781292220383
10th Global Edition
Authors: David Groebner, Patrick Shannon, Phillip Fry