The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Year 2004 2005 2006 2007 2008 Consumer Credit 2210.5 2303.8 2437.0 2517.9 2595.1 Year 2009 2010 2011 2012 2013 The consumer credit is growing about $ (Round to two decimal places as needed.) *** Consumer Credit 2557.5 2648.1 2756.0 2926.3 3099.2 a. Find an equation for the least squares line, letting x equal the number of years since 2000. The equation is Y= 86.69 x + 1868.28. (Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? billion per year.

The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Year 2004 2005 2006 2007 2008 Consumer Credit 2210.5 2303.8 2437.0 2517.9 2595.1 Year 2009 2010 2011 2012 2013 The consumer credit is growing about $ (Round to two decimal places as needed.) *** Consumer Credit 2557.5 2648.1 2756.0 2926.3 3099.2 a. Find an equation for the least squares line, letting x equal the number of years since 2000. The equation is Y= 86.69 x + 1868.28. (Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? billion per year.

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter1: Foundations

Section1.3: Add And Subtract Integers

Problem 260E: Stock Market During the week of June 22, 2009, the closing numbers of the Dow Jones Industrial...

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