The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs. (1994, 0.676) (1996, 0.638) (1998, 0.615) (2000, 0.584) (2002, 0.561) (2004, 0.528) (2006, 0.498) (2008, 0.459) (1995, 0.652) (1997, 0.620) (1999, 0.603) (2001, 0.562) (2003, 0.538) (2005, 0.512) (2007, 0.485) (a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear? O Yes O No (b) Use the regression feature of the spreadsheet software program to find a linear model for the data. (Let t represent time. Round your numerical values to four decimal places.) y = (c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2011. (Round your answers to two decimal places.) 2010 %24 2011 %24 Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data. O Because the data follow a linear pattern, the predictions for 2010 and 2011 are not reliable. O Because the data follow a linear pattern, the predictions for 2010 and 2011 are reliable. O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are not reliable. O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are reliable.
The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs. (1994, 0.676) (1996, 0.638) (1998, 0.615) (2000, 0.584) (2002, 0.561) (2004, 0.528) (2006, 0.498) (2008, 0.459) (1995, 0.652) (1997, 0.620) (1999, 0.603) (2001, 0.562) (2003, 0.538) (2005, 0.512) (2007, 0.485) (a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear? O Yes O No (b) Use the regression feature of the spreadsheet software program to find a linear model for the data. (Let t represent time. Round your numerical values to four decimal places.) y = (c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2011. (Round your answers to two decimal places.) 2010 %24 2011 %24 Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data. O Because the data follow a linear pattern, the predictions for 2010 and 2011 are not reliable. O Because the data follow a linear pattern, the predictions for 2010 and 2011 are reliable. O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are not reliable. O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are reliable.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Transcribed Image Text:***..* ..... .. ... . ...
The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs.
(1994, 0.676)
(1996, 0.638)
(1998, 0.615)
(2000, 0.584)
(2002, 0.561)
(2004, 0.528)
(2006, 0.498)
(2008, 0.459)
(1995, 0.652)
(1997, 0.620)
(1999, 0.603)
(2001, 0.562)
(2003, 0.538)
(2005, 0.512)
(2007, 0.485)
(a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear?
O Yes
O No
(b) Use the regression feature of the spreadsheet software program to find
linear model for the data. (Let t represent time. Round your numerical values to four decimal
places.)
y =
(c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2011. (Round your answers to two decimal places.)
2010
24
2011
24
Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data.
O Because the data follow a linear pattern, the predictions for 2010 and 2011 are not reliable.
O Because the data follow a linear pattern, the predictions for 2010 and 2011 are reliable.
O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are not reliable.
O Because the data does not follow a linear pattern, the predictions for 2010 and 2011 are reliable.
Need Help?
Read It
MacBook
DD
F11
F10
F9
F8
F7
F6
F5
F4
F3
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 2 steps with 3 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
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
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman