Chapter 14.4, Problem 36E

(a)

To determine

To calculate: The linear regression equation for the federal direct student loan balance as a function of the years past 2010. Report the model with 3 significant digit coefficients. The balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.

Years	Amount ($ billion)
$2011$	$702$
$2013$	$940$
$2015$	$1220$
$2017$	$1500$
$2019$	$1775$
$2021$	$2000$
$2023$	$2250$

(b)

To determine

To calculate: The balance in 2025 from the reported model. The balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.

Years	Amount ($ billion)
$2011$	$702$
$2013$	$940$
$2015$	$1220$
$2017$	$1500$
$2019$	$1775$
$2021$	$2000$
$2023$	$2250$

(c)

To determine

The interpretation of the slope of the best fit line for the balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.

Years	Amount ($ billion)
$2011$	$702$
$2013$	$940$
$2015$	$1220$
$2017$	$1500$
$2019$	$1775$
$2021$	$2000$
$2023$	$2250$