According to industry sources, online banking is expected to take off in the near future. The projected number of households (in millions) using this service is given in the following table: (Here, x = 0 corresponds to the beginning of 1997.)
Find an equation of the least-squares line for these data. Please round the coefficients in your equation to three decimal places. Use the result to estimate the number of households using online banking at the beginning of 2009, assuming the projection is accurate.
A) y = 2.716x + 4.653; 37.282 million
B) y = 2.716x + 4.653; 37.245 million
C) y = 2.709x + 4.662; 37.170 million
D) y = 2.709x + 4.662; 37.193 million

Question

According to industry sources, online banking is expected to take off in the near future. The projected number of households (in millions) using this service is given in the following table:  (Here, x = 0 corresponds to the beginning of 1997.)
Find an equation of the least-squares line for these data. Please round the coefficients in your equation to three decimal places. Use the result to estimate the number of households using online banking at the beginning of 2009, assuming the projection is accurate.
A) y = 2.716x + 4.653; 37.282 million 
B) y = 2.716x + 4.653; 37.245 million 
C) y = 2.709x + 4.662; 37.170 million 
D) y = 2.709x + 4.662; 37.193 million

Quizplus · Accepted Answer

The Answer of According to industry sources, online banking is expected to take off in the near future. The projected number of households (in millions) using this service is given in the following table:  (Here, x = 0 corresponds to the beginning of 1997.)
Find an equation of the least-squares line for these data. Please round the coefficients in your equation to three decimal places. Use the result to estimate the number of households using online banking at the beginning of 2009, assuming the projection is accurate.
A) y = 2.716x + 4.653; 37.282 million 
B) y = 2.716x + 4.653; 37.245 million 
C) y = 2.709x + 4.662; 37.170 million 
D) y = 2.709x + 4.662; 37.193 million

According to Industry Sources, Online Banking Is Expected to Take