The regression results below show the relationship between GDP (Y) and private consumption (X) for Thailand from year 1993 to 2019. (n=27) Model 1: Ý, = 0.5695 + 0.1968X; se = (0.0551) (0.7591) R²= 0.8671 Model 2: InY; = -0.3965 + 0.9120X, se = (0.8411) (0.7025) R² = 0.9361

The regression results below show the relationship between GDP (Y) and private consumption (X) for Thailand from year 1993 to 2019. (n=27) Model 1: Ý, = 0.5695 + 0.1968X; se = (0.0551) (0.7591) R²= 0.8671 Model 2: InY; = -0.3965 + 0.9120X, se = (0.8411) (0.7025) R² = 0.9361

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

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Concept explainers

Transformation of Graphs

The word ‘transformation’ means modification. Transformation of the graph of a function is a process by which we modify or change the original graph and make a new graph.

Exponential Functions

The exponential function is a type of mathematical function which is used in real-world contexts. It helps to find out the exponential decay model or exponential growth model, in mathematical models. In this topic, we will understand descriptive rules, concepts, structures, graphs, interpreter series, work formulas, and examples of functions involving exponents.

Question

Interpret the slope coefficients in Model 1 and Model 2.

The regression results below show the relationship between GDP (Y) and private consumption (X) for
Thailand from year 1993 to 2019. (n=27)
Model 1: Ý, = 0.5695 + 0.1968X;
se = (0.0551) (0.7591)
%3D
R²= 0.8671
Model 2: InY = -0.3965 + 0.9120X,
se = (0.8411) (0.7025)
%3D
R² = 0.9361

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