The annual expenditures per residential phone services decreased for the years 2000-2004. The table below shows the annual average expenditures per customer unit. Let x represent the number of years since 2000. a. Use linear regression to fit a line to the data. b. Find the rate at which the amount of expenditures is decreasing each year. c. If the trend continues to decrease at this rate, find the expected amount of expenditures for residential phone services in the year 2018. Year 2000 646 2001 626 Avg $ Spent per Residential Phone ... 2002 606 2003 591 2004 581 a. The linear regression equation is y = (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.)

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter3: The Derivative
Section3.4: Definition Of The Derivative
Problem 50E
icon
Related questions
Question
The annual expenditures per residential phone services decreased for the years 2000-2004. The table below shows the annual average expenditures per
customer unit. Let x represent the number of years since 2000.
a. Use linear regression to fit a line to the data.
b. Find the rate at which the amount of expenditures is decreasing each year.
c. If the trend continues to decrease at this rate, find the expected amount of expenditures for residential phone services in the year 2018.
Year
2003
2000
646
2001
626
Avg $ Spent per Residential Phone
591
2002
606
2004
581
a. The linear regression equation is y =
(Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.)
Transcribed Image Text:The annual expenditures per residential phone services decreased for the years 2000-2004. The table below shows the annual average expenditures per customer unit. Let x represent the number of years since 2000. a. Use linear regression to fit a line to the data. b. Find the rate at which the amount of expenditures is decreasing each year. c. If the trend continues to decrease at this rate, find the expected amount of expenditures for residential phone services in the year 2018. Year 2003 2000 646 2001 626 Avg $ Spent per Residential Phone 591 2002 606 2004 581 a. The linear regression equation is y = (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning