Solved: Defense Department Outlays The table shows the

Chapter , Problem 6.2.58

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Defense Department Outlays The table shows the total national outlays for defense functions (in billions of dollars) for the years 2004 through 2011. (Source: U.S. Office of Management and Budget) (a) Find the least squares regression line for the data, where represents the year with corresponding to 2004, by solving the system for and (b) Use the regression feature of a graphing utility to confirm the result of part (a). (c) Use the linear model to create a table of estimated values of Compare the estimated values with the actual data. (d) Use the linear model to estimate the total national outlay for 2012. (e) Use the Internet, your schools library, or some other reference source to find the total national outlay for 2012. How does this value compare with your answer in part (d)? (f) Is the linear model valid for long-term predictions of total national outlays? Explain