Visio Diagram and Design Summary
May 7, 2020
Fed policymaking
May 8, 2020

Linear Modeling

Linear Modeling

For this section, write an essay that addresses the answers to the questions below.  Everything including calculations is to be typed.  This will become section I of

the final project you turn in at the end of the semester.  This should be in report form (paragraph form and NOT numbered).

1.    Enter your data into Excel letting x=1 be the starting year, and find a linear equation that models the data (add trendline in Excel).  Call this equation Y1

and include the  value.  Print your graph with labeled axes, and include the graph in your report.

2.     What are the units for the slope?  Interpret the slope of this line for your data set.

3.    Using the data values, calculate the slope between each pair of points.  Calculate the average rate of change for the entire data set.  (This can all be done

in Excel and shown in your report€”reference pg 28 of the workbook.)  State the average rate of change here.  How does this compare to the rate of change in your first

equation?

4.    Make a linear equation for your data using the average rate of change from #3 and the first point from your data set and call it Y2.  Show all work in your

report.

5.    Using both equations Y1 and Y2, find the value f(5) and interpret what this means in the real situation.  Does this fit with the data you have?

6.    Using both equations Y1 and Y2, find the value f(11) and interpret what this means in the real situation.  Is this prediction reasonable?

7.    Graph Y1 and Y2 on your calculator with your stat plot of the data, and compare the two graphs. Using your answers from #5 and 6 and the graphs from your

calculator, which model is better? Explain your choice.

8.    Do you think this data is linear? Explain your reasoning.