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The Personal Consumption Expenditures for Telephones

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The personal consumption expenditures for telephone, in billions of dollars, in the United States for the year 1996 to 2001 are given below. Determine the least squares equation, and estimate the expenditure for 2004.

Year Code Expenditure ($billions)
1996 1 37.9
1997 2 39.8
1998 3 40.4
1999 4 42.7
2000 5 44.1
2001 6 47.1

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The personal consumption expeditures for telephone, in billions of dollars, in the United States for the year 1996 to 2001 are given below. Determine the least squares equation, and estimate the expenditure for 2004.

Year Code Expenditure ($billions)
1996 1 37.9
1997 2 ...

Solution Summary

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$2.19