DEFENSE DEPARTMENT OUTLAYS The table showsthe total national outlays for defense

Chapter 6, Problem 62

(choose chapter or problem)

DEFENSE DEPARTMENT OUTLAYS The table showsthe total national outlays for defense functions (inbillions of dollars) for the years 2000 through 2007.(Source: U.S. Office of Management and Budget (a) Use the technique demonstrated in Exercises 5760to set up a system of equations for the data and tofind the least squares regression lineLet represent the year, with corresponding to2000.(b) Use the regression feature of a graphing utility tofind a linear model for the data. How does thismodel compare with the model obtained in part (a)?(c) Use the linear model to create a table of estimatedvalues of Compare the estimated values with theactual data.(d) Use the linear model to estimate the total nationaloutlay for 2008.(e) Use the Internet, your schools library, or someother reference source to find the total nationaloutlay for 2008. How does this value compare withyour answer in part (d)?(f ) Is the linear model valid for long-term predictionsof total national outlays? Explain.