
(a)
To write: A model that relates the percent of consumer credit as a function of the number of years since 1992.
(a)

Answer to Problem 21E
Explanation of Solution
Given information: Consumer Credit: The amount of consumer credit as a percent of disposable personal income is given below.
Calculation:
The required model is as follows:
(b)
To estimate: The percent of consumer credit in 1994, using the model.
(b)

Answer to Problem 21E
Explanation of Solution
Given information: Consumer Credit: The amount of consumer credit as a percent of disposable personal income is given below.
Calculation:
1994 is 6 years from 1988,
Chapter 4 Solutions
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