Problem

(a) Choose one category of consumer credit and plot it. (b) Describe the trend (if any) an...

(a) Choose one category of consumer credit and plot it. (b) Describe the trend (if any) and discuss possible causes. (c) Fit a trend model of your choice. (d) Make a forecast for 2006, using a trend model of your choice. Note: Revolving credit is mostly credit card and home equity loans, while nonrevolving credit is for a specific purchase such as a car. Consumer

Consumer Credit Outstanding, 2000-2005 ($ billions)
Year	Total	Revolving	Nonrevolving
2000	1,722	683	1,039
2001	1,872	716	1,155
2002	1,984	749	1,235
2003	2,088	771	1,317
2004	2,202	801	1,401
2005	2,296	827	1,469

Source: Economic Report of the President. 2007.

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