Math Problem Statement
Year
Consumer
Credit
Year
Consumer
Credit 20032003
2219.52219.5
20082008
2557.52557.5
20042004
2303.82303.8
20092009
2648.12648.1
20052005
2437.02437.0
20102010
2756.02756.0
20062006
2517.92517.9
20112011
2926.32926.3
20072007
2595.12595.1
20122012
3094.23094.2
Question content area bottom
Part 1
a.
Find an equation for the least squares line, letting x equal the number of years since
The equation is
Yequals=enter your response herexplus+enter your response here.
(Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Least Squares Method
Formulas
Slope formula: m = (nS_{xy} - S_xS_y) / (nS_{xx} - S_x^2)
Intercept formula: b = (S_y - mS_x) / n
Theorems
-
Suitable Grade Level
College Level