Answered: The following table shows the average…

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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Question

The following table shows the average annual income in a certain country, adjusted for inflation, for the given year.

t = years since 1980	I = annual income
0	$23,109
5	$23,216
10	$25,384
15	$26,694
20	$30,719
25	$30,450
30	$28,738

(a)

Find the equation of the regression line. (Round regression line parameters to two decimal places.)

I(t) =

(b)

Plot the data along with the regression line.

(c)

Explain in practical terms the meaning of the slope of the regression equation. (Round your answers to two decimal places.)

The slope of the regression line is dollars per year. The slope means that, from 1980 on, the average annual income (adjusted for inflation) grew by $ each year.

(d)

During which year since 1990 was income much lower than would be expected from the regression model?

19952000 20052010

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