Concept explainers
a.
Identify the variables.
b.
Obtain the regression line for predicting 2021 debt-to-GDP ratio from the average growth rate over the decade 2011 to 2021.
c.
Give interpretation for slope and intercept of the line obtained in Part (b).
d.
Predict the 2021 debt-to-GDP ratio if the growth is 2%.
Predict the 2021 debt-to-GDP ratio if the growth is 4%.
e.
Obtain the expected growth rate when the ratio hits 90% in 2021.
f.
Obtain the regression line for predicting the deficit in 2021 from the average growth rate over the decade 2011 to 2021.
g.
Give interpretation for slope and intercept of the line obtained in Part (f).
h.
Predict the deficit in 2021 if the growth is 2%.
Predict the deficit in 2021 if the growth is 4%.
i.
Obtain the expected growth rate when the deficit is $1.4 trillion.
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