The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Year 2004 2005 2006 2007 2008 Consumer Credit 2210.5 2303.8 2437.0 2517.9 2595.1 Year 2009 2010 2011 2012 2013 The consumer credit is growing about $ (Round to two decimal places as needed.) *** Consumer Credit 2557.5 2648.1 2756.0 2926.3 3099.2 a. Find an equation for the least squares line, letting x equal the number of years since 2000. The equation is Y= 86.69 x + 1868.28. (Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? billion per year.

The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Year 2004 2005 2006 2007 2008 Consumer Credit 2210.5 2303.8 2437.0 2517.9 2595.1 Year 2009 2010 2011 2012 2013 The consumer credit is growing about $ (Round to two decimal places as needed.) *** Consumer Credit 2557.5 2648.1 2756.0 2926.3 3099.2 a. Find an equation for the least squares line, letting x equal the number of years since 2000. The equation is Y= 86.69 x + 1868.28. (Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? billion per year.

Trigonometry (MindTap Course List)

8th Edition

ISBN:9781305652224

Author:Charles P. McKeague, Mark D. Turner

Publisher:Charles P. McKeague, Mark D. Turner

Chapter4: Graphing And Inverse Functions

Section: Chapter Questions

Problem 1RP

See similar textbooks

Similar questions

Stock Market During the week of June 22, 2009, the closing numbers of the Dow Jones Industrial Average each day were: What was the overall change for the week? Was it positive or negative?
What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?

Recommended textbooks for you

Trigonometry (MindTap Course List)

Trigonometry

ISBN:

9781305652224

Author:

Charles P. McKeague, Mark D. Turner

Publisher:

Cengage Learning