11. Decrease in Banks The number of banks in the United States has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 2003 through 2012 can be summarized as follows, where x. represents the years since 2000 and y the number of banks, in thousands, in the United States. Source: FDIC. n = 10 Ex = 75 Er = 645 %3D %3D Ey = 70.457 Ey? = 499.481335 Exy = 512.775 %3D %3D (a) Find an equation for the least squares line. Y = -0.1897r + 8.469 (b) Use your result from part (a) to predict the number of U.S. banks in the year 2020. About 4675 (c) If this trend continues linearly, in what year will the num- ber of U.S. banks drop below 4000? 2024 (d) Find and interpret the correlation coefficient. -0.9847: strong negative correlation The percent of households with Internet use at home
11. Decrease in Banks The number of banks in the United States has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 2003 through 2012 can be summarized as follows, where x. represents the years since 2000 and y the number of banks, in thousands, in the United States. Source: FDIC. n = 10 Ex = 75 Er = 645 %3D %3D Ey = 70.457 Ey? = 499.481335 Exy = 512.775 %3D %3D (a) Find an equation for the least squares line. Y = -0.1897r + 8.469 (b) Use your result from part (a) to predict the number of U.S. banks in the year 2020. About 4675 (c) If this trend continues linearly, in what year will the num- ber of U.S. banks drop below 4000? 2024 (d) Find and interpret the correlation coefficient. -0.9847: strong negative correlation The percent of households with Internet use at home
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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Transcribed Image Text:11. Decrease in Banks The number of banks in the United States
has been dropping steadily since 1984, and the trend in recent
years has been roughly linear. The annual data for the years
2003 through 2012 can be summarized as follows, where x-
represents the years since 2000 and y the number of banks, in
thousands, in the United States. Source: FDIC.
n = 10
Ex = 75
Ex = 645
%3D
Ey = 70.457
Ey? = 499.481335 Exy = 512.775
(a) Find an equation for the least squares line.
Y = -0.1897r + 8.469
(b) Use your result from part (a) to predict the number of U.S.
banks in the year 2020. About 4675
(c) If this trend continues linearly, in what year will the num-
ber of U.S. banks drop below 4000? 2024
(d) Find and interpret the correlation coefficient.
0.9847: strong negative correlation
The percent of households with Internet use at home
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