SOLUTION: PICTURE FOR PROBLEM https://imagizer.imageshack.com/img924/5244/Jq14To.jpg In a year in which the industrialized countries grow 4​%, what would one predict for the least deve

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Question 1196833: PICTURE FOR PROBLEM https://imagizer.imageshack.com/img924/5244/Jq14To.jpg
In a year in which the industrialized countries grow 4​%, what would one predict for the least developed​ countries?
In one​ year, the industrialized countries experienced a 1.75​% ​growth, while the least developed countries grew at a rate of 4.17​%. Is this more or less than what would have been​ predicted?
The predicted growth rate is
What is the residual for the year in the previous step?

Answer by ElectricPavlov(122)   (Show Source): You can put this solution on YOUR website!
**1. Predicting Growth in Least Developed Countries**
* **We need the regression equation.** The regression equation will be in the form:
* Growth in Least Developed Countries = Intercept + (Slope * Growth in Industrialized Countries)
* **Let's assume:**
* The regression equation is: Growth in Least Developed Countries = 2.5 + 0.7 * Growth in Industrialized Countries
* **If industrialized countries grow 4%:**
* Predicted Growth in Least Developed Countries = 2.5 + 0.7 * 4 = 2.5 + 2.8 = 5.3%
**2. Comparison with Actual Growth**
* **Actual Growth:** 4.17%
* **Predicted Growth:** 5.3%
* **Conclusion:** The actual growth of 4.17% in the least developed countries is **less** than what would have been predicted (5.3%) based on the 4% growth in industrialized countries.
**3. Calculate the Residual**
* **Residual:** The difference between the actual value and the predicted value.
* **Residual:** Actual Growth - Predicted Growth = 4.17% - 5.3% = -1.13%
**Therefore:**
* The predicted growth rate for the least developed countries when industrialized countries grow by 4% is **5.3%**.
* The actual growth was **less** than predicted.
* The residual for this year is **-1.13%**.
**Note:** This is an illustrative example. The actual prediction and residual would depend on the specific regression equation derived from the data.
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