Suppose a construction firm is interested in examining how the amount spent on n
ID: 3059465 • Letter: S
Question
Suppose a construction firm is interested in examining how the amount spent on new construction has changed over time. They have data on amount spent on new construction (in billions of dollars) in the entire U.S. for the years 1991 through 2001. A graph of the data along with the least-squares regression equation is given below. 4 Regression Equation Predicted NewConstruct = 368.23 + 42.993 Year
1. If appropriate, interpret the sample y-intercept within the context of the problem. If not appropriate, explain why.
2. Interpret the sample slope within the context of the problem.
Fitted Line Plot for Linear Model 900 800 700 600 500 400 10 12 YearExplanation / Answer
Suppose a construction firm is interested in examining how the amount spent on new construction has changed over time. They have data on amount spent on new construction (in billions of dollars) in the entire U.S. for the years 1991 through 2001. A graph of the data along with the least-squares regression equation is given below. 4 Regression Equation Predicted NewConstruct = 368.23 + 42.993 Year
1. If appropriate, interpret the sample y-intercept within the context of the problem. If not appropriate, explain why.
2. Interpret the sample slope within the context of the problem.
Fitted Line Plot for Linear Model 900 800 700 600 500 400 10 12 YearRelated Questions
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