The United States gross national product, in trillions of dollars, is given in the table below. Date Gross national product 2010 15.0 2011 15.5 2012 16.2 2013 16.7 (a) Find the equation of the linear regression. (Lett be the number of years since 2010. Round regression line parameters to two decimal places.) G(t) = Explain the meaning of its slope. The slope of the line tells us that each year the gross national product increases by trillion dollars.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

The United States gross national product, in trillions of dollars, is given in the table below.

The United States gross national product, in trillions of dollars, is given in the table below.
Date Gross national product
2010
15.0
2011
2012
2013
15.5
16.2
16.7
(a) Find the equation of the linear regression. (Let t be the number of years since 2010. Round regression line parameters to two decimal places.)
G(t) =
Explain the meaning of its slope.
The slope of the line tells us that each year the gross national product increases by
trillion dollars.
Transcribed Image Text:The United States gross national product, in trillions of dollars, is given in the table below. Date Gross national product 2010 15.0 2011 2012 2013 15.5 16.2 16.7 (a) Find the equation of the linear regression. (Let t be the number of years since 2010. Round regression line parameters to two decimal places.) G(t) = Explain the meaning of its slope. The slope of the line tells us that each year the gross national product increases by trillion dollars.
(b) Plot the data points and the regression line.
G
O
17
16
15
14
13
12
G
17
16
15
14
13
12
1
1
2
2
3
t
G
17
16
15
14
13
12
G
17
16
15
14H
13
12
1
1
2
2
3
3
t
t
Transcribed Image Text:(b) Plot the data points and the regression line. G O 17 16 15 14 13 12 G 17 16 15 14 13 12 1 1 2 2 3 t G 17 16 15 14 13 12 G 17 16 15 14H 13 12 1 1 2 2 3 3 t t
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman