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
Figure A.12 shows oil production in the Middle East.12 If you were to model this function with a polynomial, what degree would you choose? Would the leading coefficient be positive or negative? 1970 1980 1990 0 500 1000 1500 million tons of oil year Figure A.12
Solution
The first step in solving Appendix A problem number 16 trying to solve the problem we have to refer to the textbook question: Figure A.12 shows oil production in the Middle East.12 If you were to model this function with a polynomial, what degree would you choose? Would the leading coefficient be positive or negative? 1970 1980 1990 0 500 1000 1500 million tons of oil year Figure A.12
From the textbook chapter Problems for Appendix A you will find a few key concepts needed to solve this.
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