Solved

Solve the Problem A) 8.6758.675 B) 9.0649.064 C) 8.8748.874 D) 8.6698.669

Question 87

Multiple Choice

Solve the problem.
-A survey of the interest rates earned by Certificates of Deposit (CDs) showed the following percents for the length of time (in years) for holding the CD. Let length of time represent the independent variable and interest
Rate represent the dependent variable. Use a graphing utility to draw a scatter diagram and to find the line of
Best fit. What is the estimate of the interest rate for a CD held for 30 years (to the nearest thousandth) ?  CD Maturity (yrs)  Interest rate (%) 58.458108.470158.496208.580258.625\begin{array}{l|l}\text { CD Maturity }(\mathrm{yrs}) & \text { Interest rate }(\%) \\\hline 5 & 8.458 \\10 & 8.470 \\15 & 8.496 \\20 & 8.580 \\25 & 8.625\end{array}


A) 8.6758.675
B) 9.0649.064
C) 8.8748.874
D) 8.6698.669

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents