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Question

The table gives the gross world product, G, which measures global output of goods and services. If t is in years since 1950, the regression line for these data is $G=3.543+0.734 t$.

$\begin{array}{|c|ccccccc|} \hline \text { Year } & {1950} & {1960} & {1970} & {1980} & {1990} & {2000} \\ \hline G & {6.4} & {10.0} & {16.3} & {23.6} & {31.9} & {43.2} \\ \hline \end{array}$

Interpret the slope of the line in terms of gross world product.

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 2Given the regression line of the gross world product,

$G=3.543+0.734t$

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