Find and interpret the correlation coefficient. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal rounded to four decimal places as needed.) A. The correlation coefficient is enter your response here, which indicates a strong linear correlation. B. The correlation coefficient is enter your response here, which indicates there is no linear correlation.

The total amount of consumer credit has been increasing steadily in recent years. The following table gives the total outstanding consumer credit (in billions of dollars). Answer parts (a) through (e) below. Year Consumer Year Consu mer a Credit Credit 2003 22105 2008 2553.5 2004 2350.8 2009 2645.1 2005 2759.0 2006 29243 2007 3099.2 a. Find an equation for the least squares line, letting x equal the number of years since 2001. The equation is Y= 84.69x+ 2059.66. (Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.) b. Based on the answer to part (a), at approximately what rate is consumer credit growing per year? The consumer credit is growing about 3 64.69 billion per year. (Round to two decimal places as needed.) c. Use the result from part (a) to predict the amount of consumer credit in the year 2017. The amount of consumer credit in the year 2017 will be $ 3415 billion. (Round to the nearest whole number.) d. If this trend continues linearly, in what year will the total debt first exceed $4000 billian? If this trend continues linearly, in the year 2024 , total debt will first exceed $4000 billion. e. Find and interpret the correlation coefficient. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or decimal rounded to four decimal places as needed.) A. The correlation coefficient is |0. 9880 . which indicates a strong linear correlation. @ B. The correlation coefficient is [0.9880 . which indicates there is no linear correlation