Table A.5 gives the gross world product, G, which measures global output of goods and services.3 If t is in years since 1950, the regression line for these data is G = 3.543 + 0.734t. (a) Plot the data and the regression line on the same axes. Does the line fit the data well? (b) Interpret the slope of the line in terms of gross world product. (c) Use the regression line to estimate gross world product in 2005 and in 2020. Comment on your confidence in the two predictions. Table A.5 G, in trillions of 1999 dollars Year 1950 1960 1970 1980 1990 2000 G 6.4 10.0 16.3 23.6 31.9 43.2
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Textbook Solutions for Applied Calculus
Question
Table A.13 shows the number of cars, N, in millions in the US10 t years after 1940. (a) Plot the data, with number of passenger cars as the dependent variable. (b) Does a linear or exponential model appear to fit the data better? (c) Use a linear model first: Find the regression line for these data. Graph it with the data. Use the regression line to predict the number of passenger cars in the year 2010 (t = 70). (d) Interpret the slope of the regression line found in part (c) in terms of passenger cars. (e) Now use an exponential model: Find the exponential regression function for these data. Graph it with the data. Use the exponential function to predict the number of passenger cars in the year 2010 (t = 70). Compare your prediction with the prediction obtained from the linear model. (f) What annual percent growth rate in number of US passenger cars does your exponential model show? Table A.13 Number of passenger cars, in millions t 0 10 20 30 40 50 60 N 27.5 40.3 61.7 89.2 121.6 133.7 133.6
Solution
The first step in solving Appendix A problem number 12 trying to solve the problem we have to refer to the textbook question: Table A.13 shows the number of cars, N, in millions in the US10 t years after 1940. (a) Plot the data, with number of passenger cars as the dependent variable. (b) Does a linear or exponential model appear to fit the data better? (c) Use a linear model first: Find the regression line for these data. Graph it with the data. Use the regression line to predict the number of passenger cars in the year 2010 (t = 70). (d) Interpret the slope of the regression line found in part (c) in terms of passenger cars. (e) Now use an exponential model: Find the exponential regression function for these data. Graph it with the data. Use the exponential function to predict the number of passenger cars in the year 2010 (t = 70). Compare your prediction with the prediction obtained from the linear model. (f) What annual percent growth rate in number of US passenger cars does your exponential model show? Table A.13 Number of passenger cars, in millions t 0 10 20 30 40 50 60 N 27.5 40.3 61.7 89.2 121.6 133.7 133.6
From the textbook chapter Problems for Appendix A you will find a few key concepts needed to solve this.
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