Education Expenditure The following chart shows the percentage of the U.S. discretionary budget allocated to education from 2003 to 2009 (t = 3 represents the start of 2003). Percentage of U.S. budget on education 7.0 7.0 6.9 6.8 6.5 6.3 6.2 3 4 5 6 7 8 Year since 2000 The following table shows the percentage of the U.S. discretionary budget allocated to education in 2003, 2005, and 2009 (t = 3 represents the start of 2003). t Year t 3 5 9 Percentage 6.8 7| 6.2 Find a quadratic model for these three years. (Round your coefficients to two decimal places.) p(t) = Use your model to estimate the percentage of the U.S. discretionary budget allocated to education in 2007. (Round your answer to two decimal places.) | % Compare your answer with the actual figure shown in the chart. The actual percentage was %, which Select--- | in close agreement with the predicted figure. Percentage

Advanced Engineering Mathematics
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Chapter2: Second-order Linear Odes
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Education Expenditure The following chart shows the percentage of the U.S. discretionary budget allocated to education from 2003 to 2009 (t = 3 represents the start of 2003).
Percentage of U.S. budget on education
7.0
7.0
6.9
6.8
6.5
6.3
6.2
4
5
6
7
8
Year since 2000
The following table shows the percentage of the U.S. discretionary budget allocated to education in 2003, 2005, and 2009 (t = 3 represents the start of 2003).†
Year t
3
9.
Percentage
6.8
7
6.2
Find a quadratic model for these three years. (Round your coefficients to two decimal places.)
p(t) =
Use your model to estimate the percentage of the U.S. discretionary budget allocated to education in 2007. (Round your answer to two decimal places.)
%
Compare your answer with the actual figure shown in the chart.
The actual percentage was
%, which [---Select--- V] in close agreement with the predicted figure.
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Percentage
Transcribed Image Text:Education Expenditure The following chart shows the percentage of the U.S. discretionary budget allocated to education from 2003 to 2009 (t = 3 represents the start of 2003). Percentage of U.S. budget on education 7.0 7.0 6.9 6.8 6.5 6.3 6.2 4 5 6 7 8 Year since 2000 The following table shows the percentage of the U.S. discretionary budget allocated to education in 2003, 2005, and 2009 (t = 3 represents the start of 2003).† Year t 3 9. Percentage 6.8 7 6.2 Find a quadratic model for these three years. (Round your coefficients to two decimal places.) p(t) = Use your model to estimate the percentage of the U.S. discretionary budget allocated to education in 2007. (Round your answer to two decimal places.) % Compare your answer with the actual figure shown in the chart. The actual percentage was %, which [---Select--- V] in close agreement with the predicted figure. Need Help? Watch It Read It Percentage
Expert Solution
Step 1

The quadratic regression is given by pt=At2+Bt+C

The coefficients A, B, and C are given by

A=St2pStt-StpStt2SttSt2t2-Stt22

B=StpSt2t2-St2pStt2SttSt2t2-Stt22

C=p-Bt-At2

where 

Stt=ti-t2=ti2-n.t2Stp=ti-tpi-p=tipi-n.t pStt2=ti-tti2-t2=ti3-n.t t2St2t2=ti2-t22=ti4-n. t2t2St2p=ti2-t2pi-p=ti2pi-n.t2 p

The correlation coefficient is 

r=1-pi-A+Bti+Cti22pi-p2

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