The table shows the consumer price index (CPI) in April of selected years.
Year | 1994 | 1998 | 2000 | 2002 |
CPI | 147.4 | 162.5 | 171.3 | 179.8 |
For each of the following two models, in which x = 0 corresponds to 1990, compute the required information for each blank.
(a) Model: y = 4x + 131
Data Point
Model Point
Residual
Residual Squared
(4, 147.4)
_______
_______
_______
(8, 162.5)
_______
_______
_______
(10, 171.3)
_______
_______
_______
(12, 179.8)
_______
_______
_______
Sum: ______
Sum:_______
(b) Model: y = 4.1x + 131.5
Data Point
Model Point
Residual
Residual Squared
(4, 147.4)
_______
_______
_______
(8, 162.5)
_______
_______
_______
(10, 171.3)
_______
_______
_______
(12, 179.8)
_______
_______
_______
Sum: ______
Sum: ______
(c) Which of the preceding models is the better fit for the data?
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