Linear Model Project

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School

University of Maryland Global Campus (UMGC) *

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Course

101

Subject

Economics

Date

Feb 20, 2024

Type

docx

Pages

4

Uploaded by ChefMongoosePerson204

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Curve-Fitting Project - Linear Model: United States Population by Year (LR-1) Purpose : To analyze the population in the United States using a linear model. Data : The data was retrieved from https://www.worldometers.info/world-population/us-population/ The data used is based off the total population reported in the United States, although more statistics are available per year and further back in time. DATA: United States Population by Year Year Population 1955 171,685,336 1960 186,720,571 1965 199,733,676 1970 209,513,341 1975 219,081,251 1980 229,476,354 1985 240,499,825 1990 252,120,309 1995 265,163,745 2000 281,710,909 2005 294,993,511 2010 309,011,475 2015 320,878,310 2020 331,002,651 (LR-2) SCATTERPLOT: 1950 1960 1970 1980 1990 2000 2010 2020 2030 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 300,000,000 350,000,000 United States Population Year Population Page 1 of 4
(LR-3) 1950 1960 1970 1980 1990 2000 2010 2020 2030 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 300,000,000 350,000,000 f(x) = 2444198.92 x − 4607017413.93 United States Population with Regression Line Year Population Line of Best Fit (Regression Line) y = 2444198.924x - 4607017414 where x = Year and y = Population (LR-4) The slope is 2444198.924 annotating an average rate of increase of 2,444,199 people to the population in the United States each year. The slope indicates that in general, the population increases by average at a rate of 2,444,199 people per year or 12,220,995 people every 5 years. Page 2 of 4
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