Economic growth of the United States: This exercise and the next refer to the gross domestic product (GDP), which is the market value of the goods and services produced in a country in a given year....

Economic growth of the United States: This exercise and the next refer to the gross domestic product (GDP), which is the market value of the goods and services produced in a country in a given year. The data in these exercises are adapted from a report published in 2006 that predicted rates of growth for the world economy over a 15-year period.43 The following table shows the GDP of the United States, in trillions of dollars. The data are based on figures and projections in the report.

a. Plot the natural logarithm of the data, and find the equation of the regression line for the natural logarithm of the data. Round the regression line parameters to four decimal places.

b. Use the logarithm as a link to find an exponential model of the GDP in the United States. Round the initial value and growth factor to three decimal places.