Use the regression capabilities of a graphing calculator to complete Exercises 33
Plastic money: The total amount of business transacted using credit cards has been changing rapidly over the last 15 to 20 years. The total volume (in billions of dollars) is shown in the table for selected years. (a) Use a graphing calculator to draw a scatterplot of the data and decide whether the association is linear or nonlinear. (b) Calculate a regression equation with x = 0 corresponding to 1990 and display the scatterplot and graph on the same screen. (c) According to the equation model, how many billions of dollars were transacted in 2003? How much will be transacted in the year 2011?
Source: Statistical Abstract of the United States, various years
x (1990→0) | y |
1 | 481 |
2 | 539 |
4 | 731 |
7 | 1080 |
8 | 1157 |
9 | 1291 |
10 | 1458 |
12 | 1638 |
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