year 1970 1980 1990 2000 2010 Expenditures 21043 56914 13465

year-                 1970      1980        1990   2000        2010

Expenditures-     21043   56914    134656     236784      461000   

Using interpolation, the estimated expenditure for 1975 is____ million dollars?

Using interpolation, the estimate expenditure for the year 1991 is______ million dollars?

Solution

using minitab,

linear regression model

exp = -20907622 + 10598 year

for 1975, Exp= -20907622 + 10598 *1975

                      =23428

for 1991, Exp = -20907622 + 10598 * 1991

                    =192996