Question

In: Statistics and Probability

Development of the world population between 1960 and 2005. YEAR POPULATION (in millions) 1960 3019 1965...

Development of the world population between 1960 and 2005.

YEAR

POPULATION (in millions)

1960

3019

1965

3347

1970

3698

1975

4084

1980

4448

1985

4844

1990

5292

1995

5674

2000

6045

2005

6465

Based on the data, construct a linear regression model M in which the population of the globe is explained over time. For how many people does the model predict the population to grow at an annual rate? Please provide an answer with at least two significant digits.

--> I only need the answer, no explation needed :) Thank you!

Solutions

Expert Solution

Regression equation: y = 77.33x - 148,621.73

"y = mx + b"), the slope is the number "m" that is multiplied on the x, and "b" is the y-intercept (that is, the point where the line crosses the vertical y-axis).

Slope: 77.33x

Intercept: 148,621.73

If you want to predict any population, multiple the rate with 77.33 and add the value with intercept. That would be the predicted value

orchestra answered 1 year ago
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