(Solved): The number of banks in a country has been dropping steadily since 1984 , and the trend in recent ye ...

The number of banks in a country has been dropping steadily since 1984 , and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where \( x \) represents the years since 1990 and \( y \) the number of banks, in thousands. \( n=10 \quad \sum x=235 \quad \sum x^{2}=5606 \quad \sum y=77.564 \quad \sum y^{2}=603.60324 \quad \sum x y=1810.155 \) a. Find an equation for the least squares line. b. Use your result from part (a) to predict the number of banks in the year \( 2020 . \) c. If this trend continues linearly, in what year will the number of banks drop below 6200 ? d. Find and interpret the correlation coefficient. a. The equation for the least squares line is \( Y=-0.1509 x+11.3022 \). (Use integers or decimals for any numbers in the expression. Round to four decimal places as needed.) b. There will be about banks in the year 2020 . (Round to the nearest whole number as needed.) c. The number of banks will drop below 6200 in the year d. The correlation coefficient is \( r= \)