Modeling Data The table shows the Gross Domestic Product, or GDP (in trillions of dollars), for 2009 through 2014, (Source: U.S. Bureau of Economic Analysis) Year 2009 2010 2011 2012 2013 2014 GDP 14.4 15.0 15.5 16.2 16.7 17.3 (a) Use the regression capabilities of a graphing utility to find a mathematical model of the form y = a t + b for the data. In the model, y represents die GDP (in trillions of dollars) and t represents the year, with t = 9 corresponding to 2009. (b) Use a graphing utility lo plot the data and graph the model. Compare the data with the model. (c) Use the model to predict the GDP in the year 2024.
Modeling Data The table shows the Gross Domestic Product, or GDP (in trillions of dollars), for 2009 through 2014, (Source: U.S. Bureau of Economic Analysis) Year 2009 2010 2011 2012 2013 2014 GDP 14.4 15.0 15.5 16.2 16.7 17.3 (a) Use the regression capabilities of a graphing utility to find a mathematical model of the form y = a t + b for the data. In the model, y represents die GDP (in trillions of dollars) and t represents the year, with t = 9 corresponding to 2009. (b) Use a graphing utility lo plot the data and graph the model. Compare the data with the model. (c) Use the model to predict the GDP in the year 2024.
Solution Summary: The author explains how to calculate the mathematical model of the form y=at+b using graphing utility.
Modeling Data The table shows the Gross Domestic Product, or GDP (in trillions of dollars), for 2009 through 2014, (Source: U.S. Bureau of Economic Analysis)
Year
2009
2010
2011
2012
2013
2014
GDP
14.4
15.0
15.5
16.2
16.7
17.3
(a) Use the regression capabilities of a graphing utility to find a mathematical model of the form
y
=
a
t
+
b
for the data. In the model, y represents die GDP (in trillions of dollars) and t represents the year, with
t
=
9
corresponding to 2009.
(b) Use a graphing utility lo plot the data and graph the model. Compare the data with the model.
(c) Use the model to predict the GDP in the year 2024.
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