From 1985 to 2003, the number BB of federally insured banks could be approximated by B(t)=−323.4t+13794B(t)=-323.4t+13794 where t is the year and t=0 corresponds to 1985.How many federally insured banks were there in 1990? Find the slope of the graph of B. Interpret this slope as a rate of change. Choose the correct answer below.The number of banks decreased by 323.4 banks per yearThe number of banks increased by 12177 banks per yearThe number of banks increased by 323.4 banks per yearThe number of banks decreased by 12177 banks per yearThe number of banks decreased by 13794 banks per yearThe number of banks increased by 13794 banks per yearFind the y-intercept of the graph of B.The y-intercept is Interpret the y-intercept. Choose the correct answer below.The y-intercept is the number of banks in 1985The y-intercept is the number of banks in 2003The y-intercept is the number of banks in 1990The y-intercept is the minimum number of banks allowed in the countryThe y-intercept is the maximum number of banks allowed in the country

Given that: The regression equation is given as: B(t)=−323.4t+13794 where t is the year and t=0 corresponds to 1985.Find the number of federally insured banks were there in 1990: Here, t=5. Substitute the value of t in the above regression equation: B(5)=−323.4×5+13794=-1617+13794=12177 Thus, the required number of federally insured banks in year 1990 is 12177. The slope is -323.4. Interpret slope: The model predicts that the number of banks decreased by 323.4 banks per year. Thus, Option (1) is the correct answer. The y-intercept is 13794. Interpret y-intercept: The y-intercept represent the number of banks in 1985 when the value of t=0. Thus, Option (1) is the correct answer.

Answered: From 1985 to 2003, the number BB of…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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From 1985 to 2003, the number BB of federally insured banks could be approximated by B(t)=−323.4t+13794B(t)=-323.4t+13794 where t is the year and t=0 corresponds to 1985.

How many federally insured banks were there in 1990?

Find the slope of the graph of B.

Interpret this slope as a rate of change. Choose the correct answer below.