Credit card debt. The annual total credit card debt (in billions of dollars) of US cardholders for the years 2008 to 2018 is provided in the table (next page).

a. Use a simple linear regression model to forecast the 2019 and 2020 values. Place 95% prediction limits on each forecast.

b. Calculate the Holt forecasts for 2019 and 2020 using w = .7 and n = .7. Compare the results with the simple linear regression forecasts of part

a. Data for Exercise 14.69 Year Debt 2008 866 2009 795 2010 730 2011 704 2012 679 2013 683 2014 700 2015 733 2016 779 2017 834 2018 870 Source: Federal Reserve Bank of New York.