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 regression line. (Let t be the number of years since 2010. Round regression line parameters to two decimal places.) G(t) = .58t + 9.18 Explain the meaning of its slope. The slope of the line tells us that each year the gross national product increases by 58 trillion dollars.

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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 regression line. (Let t be the number of years since 2010. Round regression line parameters to two decimal places.)
G(t) = .58t +9.18
%3D
Explain the meaning of its slope.
The slope of the line tells us that each year the gross national product increases by 58
V trillion dollars.
(b) Plot the data points and the regression line.
17
17
16
16
15
15
14
14
13
13
12
12
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 15.5 2012 16.2 2013 16.7 (a) Find the equation of the regression line. (Let t be the number of years since 2010. Round regression line parameters to two decimal places.) G(t) = .58t +9.18 %3D Explain the meaning of its slope. The slope of the line tells us that each year the gross national product increases by 58 V trillion dollars. (b) Plot the data points and the regression line. 17 17 16 16 15 15 14 14 13 13 12 12
1
1
3
G
17
17
16
16
15
15
14
14
13
13
12
12
3
1
3
1
(c) When would you predict that a gross national product of 17.3 trillion dollars would be reached? (Round your answer to two decimal places.)
t = 19.21
The actual gross national product in 2014 was 17.3 trillion dollars. What does that say about your prediction?
O This prediction is accurate.
This prediction is not accurate.
2.
2.
3.
2.
2.
Transcribed Image Text:1 1 3 G 17 17 16 16 15 15 14 14 13 13 12 12 3 1 3 1 (c) When would you predict that a gross national product of 17.3 trillion dollars would be reached? (Round your answer to two decimal places.) t = 19.21 The actual gross national product in 2014 was 17.3 trillion dollars. What does that say about your prediction? O This prediction is accurate. This prediction is not accurate. 2. 2. 3. 2. 2.
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