U.S. CONSUMER SPENDING A Wolfram Alpha search of consumer spending 1960, consumer spending 2000, consumer spending 2008 will bring up a graph showing the U.S. Consumer Spending rates over the last 20 years, and will give personal consumption expenditure values for the years 1960, 2000, and 2008 1. Fill in the Consumer Spending Values for each year: 1960: S trillion 2000 S trillion 2008: S trillion 2. Under Wolfram Alpha's History for Personal Consumption, select "Linear Scale. If you wanted to come up with a function that approximates consumer spending over the years 1940-2008, which would be a better choice linear or quadratic? 3. Find the quadratic line of best bit using the years 1960, 2000, and 2008 as input and consumer spending for that year as the output of the function 4. Find the average rate of change of consumer spending over the following periods. The average rate of change is defined as the change in the value of a quantity divided by the elapsed time. a) From 1960 to 2008: trillion per year b) From 1960 to 2000: $ trillion per year c) From 2000 to 2008: $ trillion per year 5. Use the quadratic line of best fit from #4 to predict the consumer spending level in 2015: $ trillion 6. Use the Wolfram Alpha search engine to find the total US population in any two recent years. Use these years to find the linear function of best fit that approximates the US population level for any year a Year: Population: million Year: Population: million Line of Best Fit: 7. Use the functions from #3 and #6 to create a function that approximates the U.S. consumer spending per person over the last 70 years. f(x) = 8. Has U.S. spending per person increased over the past 70 years? Describe how the function formed in #7 can be used to answer this question. Suggestions: ry the same project using another country or select different years to see how the lines of best fit change. U.S. CONSUMER SPENDING A Wolfram Alpha search of consumer spending 1960, consumer spending 2000, consumer spending 2008 will bring up a graph showing the U.S. Consumer Spending rates over the last 20 years, and will give personal consumption expenditure values for the years 1960, 2000, and 2008 1. Fill in the Consumer Spending Values for each year: 1960: S trillion 2000 S trillion 2008: S trillion 2. Under Wolfram Alpha's History for Personal Consumption, select "Linear Scale. If you wanted to come up with a function that approximates consumer spending over the years 1940-2008, which would be a better choice linear or quadratic? 3. Find the quadratic line of best bit using the years 1960, 2000, and 2008 as input and consumer spending for that year as the output of the function 4. Find the average rate of change of consumer spending over the following periods. The average rate of change is defined as the change in the value of a quantity divided by the elapsed time. a) From 1960 to 2008: trillion per year b) From 1960 to 2000: $ trillion per year c) From 2000 to 2008: $ trillion per year 5. Use the quadratic line of best fit from #4 to predict the consumer spending level in 2015: $ trillion 6. Use the Wolfram Alpha search engine to find the total US population in any two recent years. Use these years to find the linear function of best fit that approximates the US population level for any year a Year: Population: million Year: Population: million Line of Best Fit: 7. Use the functions from #3 and #6 to create a function that approximates the U.S. consumer spending per person over the last 70 years. f(x) = 8. Has U.S. spending per person increased over the past 70 years? Describe how the function formed in #7 can be used to answer this question. Suggestions: ry the same project using another country or select different years to see how the lines of best fit change