Year Gross Federal Debt ($millions)1945 260,1231950 256,8531955 274,3661960 290,5251965 322,3181970 380,9211975 541,9251980 909,0501985 1,817,5211990 3,206,5641995 4,921,0052000 5,686,338 Construct a scatter plot with this data. Do you observe a trend? If so, what type of trend do you observe?Use Excel to fit a linear trend and an exponential trend to the data. Display the models and their respective r^2.Interpret both models. Which model seems to be more appropriate? Why?

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Answered: Year Gross Federal Debt ($millions)…

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter11: Data Analysis And Displays

Section: Chapter Questions

Problem 9CR

Related questions

Question

Year Gross Federal Debt ($millions)

1945 260,123

1950 256,853

1955 274,366

1960 290,525

1965 322,318

1970 380,921

1975 541,925

1980 909,050

1985 1,817,521

1990 3,206,564

1995 4,921,005

2000 5,686,338

Construct a scatter plot with this data. Do you observe a trend? If so, what type of trend do you observe?
Use Excel to fit a linear trend and an exponential trend to the data. Display the models and their respective r^2.
Interpret both models. Which model seems to be more appropriate? Why?

Expert Solution