Question: B. Credit Card Volume: The total credit card volume for Visa, MasterCard, American Express, and Discover has increased dramatically in recent years, as shown in

B. Credit Card Volume: The total credit card volume for Visa, MasterCard, American Express, and Discover has increased dramatically in recent years, as shown in the table below. (Source, CardWeb Inc.'s CardData) Year, X Credit Card Volume, y (In Billions) 1988 261.0 1989 296.3 1990 338.4 1991 361.0 1992 403.1 1993 476.7 1994 584.8 1995 701.2 1996 798.3 1997 885.2 a) Draw a scatter plot of the data. b) Fit linear, quadratic, cubic, exponential, quartic, and power functions to the data. By comparing the values of R2 , determine the function that best fits the data. c) Superimpose the regression curve on the scatter plot. d) Use the regression model to predict the credit card volume in 2003 and in 2010

3. Credit Card Volume: The total credit card volume for Visa, MasterCard, American Express, and Discover has increased dramatically in recent years, as shown in the table below. (Source, Card Web Inc.'s CardData) Year, x 1988 Credit Card Volume, y (In Billions) 261.0 1989 296.3 1990 338.4 1991 361.0 1992 403.1 1993 476.7 1994 584.8 1995 701.2 1996 798.3 1997 885.2 a) Draw a scatter plot of the data. b) Fit linear, quadratic, cubic, exponential, quartic, and power functions to the data. By comparing the values of R, determine the function that best fits the data. c) Superimpose the regression curve on the scatter plot. d) Use the regression model to predict the credit card volume in 2003 and in 2010.

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