Question: The table below provides data from several line items from the North Dakota state budgets from 2003 2014. Each line item represents the number of
| The table below provides data from several line items from the North Dakota state budgets from 2003 2014. Each line item represents the number of millions of dollars spent for that category in the given year. The final column on the data table is the population of North Dakota each year according the U.S. Census Bureau.
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Part A: Construct a scatter-plot of the money spent on higher education versus the year. Be sure to put the
explanatory variable on the horizontal axis. Be sure to label each axis and include appropriate units of scale. If the data appear to follow a linear model, draw the regression line (line of best fit.) If the data appear to follow an exponential model, draw the regression curve (curve of best fit.) Include this graph in your report
Part B: Find the equation for the line or curve of best fit that you drew on the graph in question #1. Use this equation to predict the amount of money North Dakota will budget for higher education in 2020. In your report, discuss at least two reasons why this prediction may not turn out to be accurate.
Part C: Construct a scatter-plot of the money spent on transportation versus the year. Be sure to put the explanatory variable on the horizontal axis. Be sure to label each axis and include appropriate units of scale. If the data appear to follow a linear model, draw the regression line (line of best fit.) If the data appear to follow an exponential model, draw the regression curve (curve of best fit.) Include this graph in your report
.Part D: Find the equation for the line or curve of best fit that you drew on the graph in part C. Use this equation to predict the amount of money North Dakota will budget for transportation in 2020. In your report, discuss at least two reasons why this prediction may not turn out to be accurate.
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