2) The following data show Transportation Budget for North Carolina (Let year 1- 2003) ear Budget (in millions) :003 :004 :005 :006 :007 C008 385 397 452 501 446 450

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**Transportation Budget for North Carolina**

The following data show the transportation budget for North Carolina from 2003 to 2014. Each year is compared against its budget in millions.

| Year | Budget (in millions) |
|------|-----------------------|
| 2003 | 385                   |
| 2004 | 397                   |
| 2005 | 452                   |
| 2006 | 501                   |
| 2007 | 446                   |
| 2008 | 450                   |
| 2009 | 593                   |
| 2010 | 654                   |
| 2011 | 846                   |
| 2012 | 911                   |
| 2013 | 1483                  |
| 2014 | 1897                  |

**Tasks:**

a) Create a scatter plot from this data. Ensure that both axes are labeled and that an overall title is given to the chart. Additionally, have the graph display the "r-value" and the correct equation.

b) Determine the type of correlation present in this data.

c) Decide whether this data fits a linear or exponential model better, providing reasoning for your choice.

d) Predict the transportation budget for the year 2020 based on the data.
Transcribed Image Text:**Transportation Budget for North Carolina** The following data show the transportation budget for North Carolina from 2003 to 2014. Each year is compared against its budget in millions. | Year | Budget (in millions) | |------|-----------------------| | 2003 | 385 | | 2004 | 397 | | 2005 | 452 | | 2006 | 501 | | 2007 | 446 | | 2008 | 450 | | 2009 | 593 | | 2010 | 654 | | 2011 | 846 | | 2012 | 911 | | 2013 | 1483 | | 2014 | 1897 | **Tasks:** a) Create a scatter plot from this data. Ensure that both axes are labeled and that an overall title is given to the chart. Additionally, have the graph display the "r-value" and the correct equation. b) Determine the type of correlation present in this data. c) Decide whether this data fits a linear or exponential model better, providing reasoning for your choice. d) Predict the transportation budget for the year 2020 based on the data.
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