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
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
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question

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.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images

Recommended textbooks for you

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON

The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman