The following is the number of retirees receiving benefits from the State Teache

Question

The following is the number of retirees receiving benefits from the State Teachers Retirement System of Ohio from 1991 until 2012.

Determine the least squares trend equation. Use a linear equation. (Round your answers to the nearest whole number.)

  

Calculate the points for the years 2000 and 2010. Use the equation from part (b) with the coefficients as whole numbers. (Round the intermediate values to the nearest whole number. Round your answers to the nearest whole number.)

  

Estimate the number of retirees that will be receiving benefits in 2015. Use the equation from part (b) with the coefficients as whole numbers. (Round the intermediate values to the nearest whole number. Round your answer to the nearest whole number.)

  

By how much has the number of retirees increased or decreased (per year) on average during the period? (Round your answer to the nearest whole number.)

Year Service Year Service Year Service Service Year 1991 58,836 1997 72,501 2003 93,452 2008 104,499 1992 59,794 1998 75,282 2004 93,546 2009 109,631 1993 61,415 1999 78,841 2005 96,443 2010 114,005 1994 63,282 2000 81,111 2006 98,348 2011 115,608 1995 67,589 2001 84,246 2007 100,171 2012 115,605 1996 70,348 2002 87,706

Explanation / Answer

Slope = 2904.867871

Intercept = -5727626.726

y = 2905X-5727627

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