From the linear model fit to the data on GDP
From the linear model fit to the data on GDP growth of Exercise 46:
a) Write the equation of the regression line.
b) What is the meaning of the intercept? Does it make sense in this context?
c) Interpret the meaning of the slope.
d) In a year in which the United States grows at 0%, what do you predict for European growth?
e) In 2010, the United States experienced a 3.00% growth, while Europe grew at a rate of 1.78%. Is this more or less than you would have predicted?
f) What is the residual for this year?
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