Question: Data on average credit-card debt per U.S. household are given in the table below. Model the data with a linear function, and estimate the average

Data on average credit-card debt per U.S. household are given in the table below. Model the data with a linear function, and estimate the average debt in 2007 and in 2014. Answers may vary depending on the data points used.
Year, x Credit-Card Debt
Per Household, y
1992, 0 .............................................. $ 3,803
1996, 0 ........................................ 6,912
2000, 8 ........................................ 8,308
2004, 12 ........................................ 9,577
2008, 16 ........................................ 10,691
2011, 19 ........................................ 14,750

Step by Step Solution

3.31 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Results may perhaps diverge depending on the data points used We will us... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

864-L-A-L-S (107).docx

120 KBs Word File

Students Have Also Explored These Related Linear Algebra Questions!