Problema Solution
The estimated number of scheduled passengers on Us commercial airlines (in billions) in selected years is shown in int he following table:
2002 .63
2003 .64
2004 .69
2005 .72
2006 .77
2008 .80
2009 .84
(a) Find the least squares regression line that models these data with x=2 corresponding to 2002 (b) Estimate the number of passengers in 2012 and 2016
Answer provided by our tutors
(a) We use Excel to calculate the equation,
the least squares regression line that models these data is
y = 0.030x + 0.564
x=2 corresponding to 2002
(b) When in 2012, x =12, y=0.030*12 + 0.564 = 0.924 billion
When in 2016, x =16, y=0.030*16 + 0.564 = 1.044 billion