The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Consumer Consumer Year Year 2004 2005 2006 Credit 2210.5 2009 2010 2011 Credit 2557.5 2643.1 2319.8 2437.0 2540.9 2592.1 2759.0 2926.3 3094.2 2007 2008 2012 2013 a. Find an equation for the least squares line, letting x equal the number of years since 2000. The equation is Y= (Use integers or decimals for any numbers in the equation, Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? The consumer credit is growing about $ (Round to two decimal places as needed.) billion per year. c. Use the result from part (a) to predict the amount of consumer credit in the year 2016. The amount of consumer credit in the year 2016 will be s billion. (Round to the nearest whole number.)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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