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Use the regression equation to project adjusted price indices for the next ten years. Regression equation ? = 23.69871 X + 1958.25615 Personal comments: How

Use the regression equation to project adjusted price indices for the next ten years.

Regression equation ? = 23.69871X + 1958.25615

Personal comments: How do you use the regression equation to obtain adjusted prices index for the next ten years? My answers give me big numbers that don't continue make sense. Thank you

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Number Year Gross Income Price Index Adjusted Price Index Real Income Sample Varianc 227951.0084 1 2004 $60,056.00 188.9 1.889 $31,792.48 Sample Deviati 477.4421519 2005 $61,257.00 195.3 1.953 $31,365.59 Mean $31,104.12 2006 $62,482.00 201.6 2.016 $30,993.06 Median $30,993.06 DAWN 2007 $63,732.00 207.3 2.073 $30,743.85 2008 $65,007.00 215.3 2.153 $30,193.68 6 2009 $66,307.00 214.5 2.145 $30,912.35 7 2010 $67,633.00 218.1 2.181 $31,010.09 8 201 $68,986.00 224.9 2.249 $30,674.08 9 2012 $70,366.00 229.6 2.296 $30,647.21 10 2013 $71,773.00 233 2.33 $30,803.86 11 2014 $73,208.00 236.7 2.367 $30,928.60 12 2015 $74,672.00 237 2.37 $31,507.17 13 2016 $76,165.00 240 2.4 $31,735.42 14 2017 $77,688.00 245.1 2.451 $31,696.45 15 2018 $79,242.00 251.1 2.511 $31,557.95 SUMMARY OUTPUT Regression Statistics Multiple R 0.98987728 R Square 0.97985702 Adjusted R Square 0.97830757 Standard Error 0.65867192 Observations 15 ANOVA df SS MS F Significance F Regression 1 274.359967 274.359967 632.386291 2.08E-12 Residual 13 5.64003303 0.43384869 Total 14 280 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Year 1958.25615 2.10428052 930.606034 9.62E-33 1953.71013 1962.80217 Adjusted Price Index 23.6987101 0.94239611 25.1472919 2.08E-12 21.6627871 25.7346331

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