ased on the answer to part​ (a), at approximately what rate is consumer credit growing per​ year?

The consumer credit is growing about 

​$enter your response here 

billion per year.

The rate at which consumer credit is growing per year is represented by the slope of the least squares line.

From the equation $ y = 83.15x + 1904.96 $, the slope $ m = 83.15 $ indicates that consumer credit is growing by approximately **$83.15 billion per year**.

Would you like any further clarification on this? 

Here are five related questions:
1. How does the growth rate of consumer credit compare to inflation rates over the same period?
2. How could external factors, like economic recessions, affect this growth rate?
3. What assumptions are made when using the slope as a growth rate predictor?
4. How might this rate of growth affect the overall economy?
5. Can the growth rate be expected to remain constant over time?

**Tip:** The slope of a linear model directly represents the rate of change, making it useful for predictions if the relationship remains linear.

Discover how to calculate the rate of consumer credit growth using the slope of a linear regression model. Based on the equation $ y = 83.15x + 1904.96 $, consumer credit is growing by approximately $83.15 billion per year. Explore related questions on inflation rates, economic recessions, growth rate assumptions, and economic impacts.

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