Concept explainers
(a)
To calculate: The linear regression equation for the federal direct student loan balance as a function of the years past 2010. Report the model with 3 significant digit coefficients. The balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.
Years | Amount ($ billion) |
(b)
To calculate: The balance in 2025 from the reported model. The balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.
Years | Amount ($ billion) |
(c)
The interpretation of the slope of the best fit line for the balance of the federal direct student loans (in billions of dollars) for selected is tabulated below.
Years | Amount ($ billion) |
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Chapter 14 Solutions
WebAssign with Corequisite Support for Harshbarger/Reynolds/Karr/Massey's Mathematical Applications for the Management, Life, and Social Sciences, 12th Edition [Instant Access], Single-Term
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- The U.S. Census tracks the percentage of persons 25 years or older who are college graduates. That data forseveral years is given in Table 4[14]. Determine whether the trend appears linear. If so, and assuming the trendcontinues. in what year will the percentage exceed 35%?arrow_forwardThe US. import of wine (in hectoliters) for several years is given in Table 5. Determine whether the trend appearslinear. Ifso, and assuming the trend continues, in what year will imports exceed 12,000 hectoliters?arrow_forwardTable 6 shows the year and the number ofpeople unemployed in a particular city for several years. Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the number of unemployed reach 5 people?arrow_forward
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