Medical Research Expenditures Table 7.2 shows expenditures (in billions of dollars) for
Chapter 7, Problem 7.1.1.55(choose chapter or problem)
Medical Research Expenditures Table 7.2 shows expenditures (in billions of dollars) for public medical research costs for several years. Let \(x=0\) stand for 2000, \(x=1\) stand for 2001, and so forth.
(a) Find the quadratic regression equation and superimpose its graph on a scatter plot of the data.
(b) Find the logistic regression equation and superimpose its graph on a scatter plot of the data.
(c) When will the two models predict expenditures of 42 billion dollars?
(d) Writing to Learn Explain the long-range implications of using the quadratic regression equation to predict future expenditures.
(e) Writing to Learn Explain the long-range implications of using the logistic regression equation to predict future expenditures.
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