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The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual
The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands. n equals10 Summation from nothing to nothing x equals235 Summation from nothing to nothing x squared equals5606 Summation from nothing to nothing y equals77.564 Summation from nothing to nothing y squared equals603.80424 Summation from nothing to nothing xy equals1810.155 a. Find an equation for the least squares line. b. Use your result from part (a) to predict the number of banks in the year 2015. c. If this trend continues linearly, in what year will the number of banks drop below 6200? d. Find and interpret the correlation coefficient. Question content area bottom Part 1 a. The equation for the least squares line is Yequals enter your response here
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