Banks charge an overdraft fee for writing a check for an amount that is more than the

Question:

Banks charge an overdraft fee for writing a check for an amount that is more than the balance in the account. The mean overdraft fees are shown in Table 12 for various years.
Banks charge an overdraft fee for writing a check for

Let F = g(t) be the mean overdraft fee (in dollars) at t years since 2000.
a. Graph the model g (t) = 0.68 t + 23.30 on a scatterplot. Does it come close to the data points?
b. What is the slope? What does it mean in this situation?
c. What is the F-intercept? What does it mean in this situation? Do you have much faith in your estimate?
d. Use g to estimate when the mean overdraft fee was $30.
e. Because of inflation, $1 in 2005 had the same buying power as $1.19 in 2013. Use g to determine whether the mean overdraft fee has kept pace with, fallen behind, or gone beyond inflation. Is this good news, bad news, or neutral news for bank customers?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: