ScholarMatic: Explanation & Answer
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How do I solve this? I am unclear how I am supposed to find part b of the problem shown in the picture
The number of banks in a country has been dropping steadily since 1984, and the trend in recent years hasbeen roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where xrepresents the years since 1990 and y the number of banks, in thousands. n =10 Ex = 235 2,8 = 5605 2y = 77.554 ZyZ = 603.60324 2xy = 1810.095 a. Find an equation for the least squares line. b. Use your result from part a to predict the number of banks in the year 2020. c. If this trend continues linearly, in what year will the number of banks drop below 6200?d. Find and interpret the correlation coef?cient. Substitute m = – 0.1534 and b = 11.3623 into the least squares line, Y = mx + b. The least squares line thatbest ?ts the given data points is Y = – 0.1534x + 11.3623. b. The least squares line Y = – 0.1534): + 11.3623 can be used to predict the value on for a given value of x.To predict the number of banks in the year 2020, ?rst ?nd the number that corresponds to the year 2020. Which number corresponds to the year 2020? D
ScholarMatic: Explanation & Answer
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