Ă‚Â GDP growth 2012, part 2. From the linear model fit to the data on GDP growth in Exercise 45:
(a) Write the equation of the regression line.
(b) What is the meaning of the intercept? Does it make sense in this context?
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(c) Interpret the meaning of the slope.
(d) In a year in which the developed countries grow 4%, what do you predict for the developing world?
(e) In 2007, the developed countries experienced a 2.65% growth, while the developing countries grew at a rate of 6.09%. Is this more or less than you would have predicted?
(f) What is the residual for this year?