Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

World Population Growth a) Use Excel to make a scatterplot of the following data showing the world's population growth in billions. Then find the best-fit

World Population Growth

a) Use Excel to make a scatterplot of the following data showing the world's population growth in billions.

Then find the best-fit regression line and the best-fit exponential function and add these to your chart.

Add the necessary labels to give a professional looking chart

Year 1927 1960 1974 1987 1999 2012 2018

Population 2 3 4 5 6 7 7.6

b) Use Excel to find the correlation coefficients for the two models (linear and exponential).

Does either model fit the data to an acceptable level? Which one do you think is better?

c) Use your answer(s) to a) and b) to predict the world's population size in 2040.

d) Visit http://www.nationmaster.com/ and compare population growth rates of certain countries, and compare this with the level of economic prosperity of these countries. Under 'Tables, graphs, maps and pie charts' select 'Economy' and after waiting for things to load 'Poverty and Inequality > Population below $1 (PPP) per day' to find countries where 40% of the population live in poverty. Then repeat, this time using 'People' and 'Population growth' to find countries whose annual growth is 2.75% or more. List both sets and then find all countries that are high on both lists. Where are these countries?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions