Since we will be using powers of 10 and logs, it is best to make the years smaller numbers (imagine taking 10 to the 1940th powe
r). So for the x list, use 40, 45, 50, 55, etc to represent the years after 1900. a) What kind of model does the scatterplot suggest? (find out from your instructor how to submit any kind of hand made drawings)
b) Use logarithms to transform the data (fill in the table below)?
c) Identify the point that may be an outlier? Provide a reason as to why it may be an outlying point.
d) Delete the outlier and write the LINEAR equation (it should be log y-hat = ).
e) Write the exponential form of the regression (in the formY hat equals a time b to the power of x).
I see most of the statements are correct. Please see if the question asks for INCORRECT statement instead. If so, then the answer is In a Market economy, competition is controlled by the government.
If the question is really asking for all correct statements, please mention in comment and I will list them out.
