The consumption function captures one of the key relationships in economics. It expresses consumption as a function of disposal income, where disposable income is income after taxes. The attached file “Quiz_dataset2” shows data of average US annual consumption (in $) and disposable income (in $) for the years 2000 to 2016. What is the predicted consumption if the disposable income is $30,000? Select one: a. 2365.7 b. None of the above c. 32645.9 d. 2365.6
The consumption function captures one of the key relationships in economics. It expresses consumption as a function of disposal income, where disposable income is income after taxes. The attached file “Quiz_dataset2” shows data of average US annual consumption (in $) and disposable income (in $) for the years 2000 to 2016. What is the predicted consumption if the disposable income is $30,000? Select one: a. 2365.7 b. None of the above c. 32645.9 d. 2365.6
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
The consumption
What is the predicted consumption if the disposable income is $30,000?
Select one:
a. 2365.7
b. None of the above
c. 32645.9
d. 2365.6
![Date
Q1,
2000
Q2, 2000
Q3, 2000
2000
Q4, 2000
Q1, 2001
03 2004
Q2, 2001
Q3, 2001
04. 2004
Q4, 2001
01 2002
Q1, 2002
03 2002
Q2, 2002
03 2002
Q3, 2002
2003
Q4, 2002
01 2002
Q1, 2003
Q2, 2003
Q3, 2003
Q4, 2003
Q1, 2004
Q2, 2004
Q3, 2004
04. 2004
Q4, 2004
Q1, 2005
Q2, 2005
Q3, 2005
Q4, 2005
Q1, 2006
Q2, 2006
Q3, 2006
2006
Q4, 2006
Q1, 2007
2007
Q2, 2007
de, coor
Q3, 2007
by ever
Q4, 2007
******
Q1, 2008
******
Q2, 2008
wwwwww
Q3, 2008
******
Q4, 2008
cerca
Q1, 2009
Q2, 2009
de, 2000
Q3, 2009
ca, 2000
Q4, 2009
wey, 2000
Q1, 2010
******
Q2, 2010
*****
Q3, 2010
wwwwwww
Q4, 2010
Q1, 2011
Q2,2011
www.****
Q3, 2011
co, cost
Q4, 2011
wery cust
Q1, 2012
002045
Q2, 2012
03 2045
Q3, 2012
Q4, 2012
veuse
Q1, 2013
Q2, 2013
Q3, 2013
04. 2012
Q4, 2013
01. 2014
Q1, 2014
03-2014
Q2, 2014
02 2014
Q3, 2014
04.2014
Q4, 2014
01 2015
Q1, 2015
02 2015
Q2, 2015
02 2015
Q3, 2015
A 2015
Q4, 2015
Q1, 2016
Q2, 2016
Q3,2016
Q4, 2016
Consumption
28634
28837
20020
29039
30330
29220
-----
29276
*****
29282
DON
29313
*****
29685
*****
29709
*****
29795
*****
29927
DO...
30014
****
30084
DODEZ
30351
*****
30722
*****
30887
MA
31127
MAZ
31261
www.
31481
www.
31725
MOOS
31900
.....
32178
23345
32345
33306
32386
www
32677
www.
32777
23004
32884
22124
33134
33235
33273
www
33335
wwwww
33292
www
33150
*****
33134
CON
32814
www
32344
二
32167
www
31957
*****
32076
www
31999
COOOO
32106
wwwww
32308
www
32451
www
32717
www
32826
wwwww
32836
wwwwww
32913
www
32959
www
33104
www
33105
wwwww
33128
*****
33156
*****
33263
33280
22270
33370
33505
33585
33600
33688
33046
33946
AUSS
34190
**KAS
34508
****
34659
MIAKA
34850
DEOSE
35015
STAAT
35147
25226
35236
35550
35743
35987
Income
31192
31438
31719
MZ
31742
MOIS
31940
MODE
31836
23504
32504
*****
32020
*****
32728
*****
32821
****
32696
32773
32796
*****
33197
**ZES
33657
****
33713
*****
33893
www.
34152
www
34247
MEDA
34589
MAS
34183
DOS
34380
344CO
34469
24555
34666
25300
35380
ATACA
35354
araca
35363
ARTMA
35734
35889
35878
33010
35880
*****
35819
www
35998
www
36677
soon
35747
www
35892
www
35752
para
35932
p
35456
ww
35328
www
35293
*****
35686
wwwwwww
35791
*****
35967
*****
36346
www
36228
www
36347
www
36299
www
36832
www
37054
36963
*****
37860
wwwwww
36226
36380
26522
36522
Cran
36528
36872
*****
37289
AZEAZ
37587
*****
37907
20055
38033
20556
38336
DESA
38571
AZA
38785
30037
38927
39148
39354
39254](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11e6e760-4b98-4c91-ab5e-657b603ef5fc%2Ff4cf3903-5753-4d06-aa1b-a5ffd3086840%2Fwarefi7_processed.png&w=3840&q=75)
Transcribed Image Text:Date
Q1,
2000
Q2, 2000
Q3, 2000
2000
Q4, 2000
Q1, 2001
03 2004
Q2, 2001
Q3, 2001
04. 2004
Q4, 2001
01 2002
Q1, 2002
03 2002
Q2, 2002
03 2002
Q3, 2002
2003
Q4, 2002
01 2002
Q1, 2003
Q2, 2003
Q3, 2003
Q4, 2003
Q1, 2004
Q2, 2004
Q3, 2004
04. 2004
Q4, 2004
Q1, 2005
Q2, 2005
Q3, 2005
Q4, 2005
Q1, 2006
Q2, 2006
Q3, 2006
2006
Q4, 2006
Q1, 2007
2007
Q2, 2007
de, coor
Q3, 2007
by ever
Q4, 2007
******
Q1, 2008
******
Q2, 2008
wwwwww
Q3, 2008
******
Q4, 2008
cerca
Q1, 2009
Q2, 2009
de, 2000
Q3, 2009
ca, 2000
Q4, 2009
wey, 2000
Q1, 2010
******
Q2, 2010
*****
Q3, 2010
wwwwwww
Q4, 2010
Q1, 2011
Q2,2011
www.****
Q3, 2011
co, cost
Q4, 2011
wery cust
Q1, 2012
002045
Q2, 2012
03 2045
Q3, 2012
Q4, 2012
veuse
Q1, 2013
Q2, 2013
Q3, 2013
04. 2012
Q4, 2013
01. 2014
Q1, 2014
03-2014
Q2, 2014
02 2014
Q3, 2014
04.2014
Q4, 2014
01 2015
Q1, 2015
02 2015
Q2, 2015
02 2015
Q3, 2015
A 2015
Q4, 2015
Q1, 2016
Q2, 2016
Q3,2016
Q4, 2016
Consumption
28634
28837
20020
29039
30330
29220
-----
29276
*****
29282
DON
29313
*****
29685
*****
29709
*****
29795
*****
29927
DO...
30014
****
30084
DODEZ
30351
*****
30722
*****
30887
MA
31127
MAZ
31261
www.
31481
www.
31725
MOOS
31900
.....
32178
23345
32345
33306
32386
www
32677
www.
32777
23004
32884
22124
33134
33235
33273
www
33335
wwwww
33292
www
33150
*****
33134
CON
32814
www
32344
二
32167
www
31957
*****
32076
www
31999
COOOO
32106
wwwww
32308
www
32451
www
32717
www
32826
wwwww
32836
wwwwww
32913
www
32959
www
33104
www
33105
wwwww
33128
*****
33156
*****
33263
33280
22270
33370
33505
33585
33600
33688
33046
33946
AUSS
34190
**KAS
34508
****
34659
MIAKA
34850
DEOSE
35015
STAAT
35147
25226
35236
35550
35743
35987
Income
31192
31438
31719
MZ
31742
MOIS
31940
MODE
31836
23504
32504
*****
32020
*****
32728
*****
32821
****
32696
32773
32796
*****
33197
**ZES
33657
****
33713
*****
33893
www.
34152
www
34247
MEDA
34589
MAS
34183
DOS
34380
344CO
34469
24555
34666
25300
35380
ATACA
35354
araca
35363
ARTMA
35734
35889
35878
33010
35880
*****
35819
www
35998
www
36677
soon
35747
www
35892
www
35752
para
35932
p
35456
ww
35328
www
35293
*****
35686
wwwwwww
35791
*****
35967
*****
36346
www
36228
www
36347
www
36299
www
36832
www
37054
36963
*****
37860
wwwwww
36226
36380
26522
36522
Cran
36528
36872
*****
37289
AZEAZ
37587
*****
37907
20055
38033
20556
38336
DESA
38571
AZA
38785
30037
38927
39148
39354
39254
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 7 steps with 5 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
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](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
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…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
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](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman