The number of banks in the United States has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 2009 through 2018 can be summarized as follows, where x represents the years since 2000 and y the number of banks, in thousands, in the United States.

(a) Find an equation for the least squares line.

(b) Use your result from part (a) to predict the number of U.S. banks in the year 2025.

(c) If this trend continues linearly, in what year will the number of U.S. banks drop below 1800?

(d) Find and interpret the correlation coefficient.

Transcribed Image Text:

n = 10 2y = 57.232 Σχ = 135 2y = 332.048 Σχ2 = 1905 Σιν = 753.387