The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands. n=10 Ex-235 Ex²-5605 Ey-77.564 Ey²=603.80424 Exy-1810.155 a. Find an equation for the least squares line. b. Use your result from part a to predict the number of banks in the year 2020. c. If this trend continues linearly, in what year will the number of banks drop below 6200? d. Find and interpret the correlation coefficient.
The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands. n=10 Ex-235 Ex²-5605 Ey-77.564 Ey²=603.80424 Exy-1810.155 a. Find an equation for the least squares line. b. Use your result from part a to predict the number of banks in the year 2020. c. If this trend continues linearly, in what year will the number of banks drop below 6200? d. Find and interpret the correlation coefficient.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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![The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be
summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands.
n=10 Ex-235 ²-5605 Ey-77.564 Ey²=603.80424 Exy-1810.155
a. Find an equation for the least squares line.
b. Use your result from part a to predict the number of banks in the year 2020.
c. If this trend continues linearly, in what year will the number of banks drop below 6200?
d. Find and interpret the correlation coefficient.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10529811-0686-4b44-be56-56b34ced1b7f%2Fdb9b1994-c103-4489-8d46-07fb4a436bd1%2Flfgzozm_processed.png&w=3840&q=75)
Transcribed Image Text:The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be
summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands.
n=10 Ex-235 ²-5605 Ey-77.564 Ey²=603.80424 Exy-1810.155
a. Find an equation for the least squares line.
b. Use your result from part a to predict the number of banks in the year 2020.
c. If this trend continues linearly, in what year will the number of banks drop below 6200?
d. Find and interpret the correlation coefficient.
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