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

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.5: The Binomial Theorem
Problem 13E
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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
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
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
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