The U.S. national debt (in billions of dollars) for selected years from 1980 is shown in the following table. Year 1980 1985 1990 1995 2000 2004 Debt 930.2 1945.9 3233.3 4974.0 5674.2 7379.1 (a) Find the least squares regression linear function giving national debt as a function of years since 1980 (x 0 for 1980). (Round all numerical values to two decimal places.) f(x) = (b) Use the regression line to estimate the national debt in 2010. In 2014. (Round your answers to one decimal place.) 2010 24 billion 2014 24 billion (c) Assume 290 million (0.29 billion) people in the United States in 2014, What is the estimated per capita debt? (Round your answer to the nearest thousand.)
The U.S. national debt (in billions of dollars) for selected years from 1980 is shown in the following table. Year 1980 1985 1990 1995 2000 2004 Debt 930.2 1945.9 3233.3 4974.0 5674.2 7379.1 (a) Find the least squares regression linear function giving national debt as a function of years since 1980 (x 0 for 1980). (Round all numerical values to two decimal places.) f(x) = (b) Use the regression line to estimate the national debt in 2010. In 2014. (Round your answers to one decimal place.) 2010 24 billion 2014 24 billion (c) Assume 290 million (0.29 billion) people in the United States in 2014, What is the estimated per capita debt? (Round your answer to the nearest thousand.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Topic Video
Question
Finite Mathematics
Transcribed Image Text:The U.S. national debt (in billions of dollars) for selected years from 1980 is shown in the following table.
Year 1980
1985
1990
1995
2000
2004
Debt 930.2 1945.9 3233.3 4974.0 5674.2 7379.1
(a) Find the least squares regression linear function giving national debt as a function of years since 1980 (x 0 for 1980). (Round all numerical values to two decimal
places.)
f(x) =
(b) Use the regression line to estimate the national debt in 2010. In 2014. (Round your answers to one decimal place.)
2010
24
billion
2014
24
billion
(c) Assume 290 million (0.29 billion) people in the United States in 2014, What is the estimated per capita debt? (Round your answer to the nearest thousand.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 6 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
