Do problem 12.11. Submit an Excel file with your model and responses.
11. The file
P12_11.xlsx
Download P12_11.xlsx
contains annual U.S. federal debt from 1960 through 2011.
- Fit an exponential growth curve to these data.
- Summarize your findings from the model.
- If the U.S. federal debt continues to rise at the exponential rate you find, approximately what will its value be at the end of 2020?
- PLEASE SUBMIT THE ANSWER IN EXCEL FILE
Source U.S. Census Bureau (at http://www.census.gov/compendia/statab/cats/federal_govt_finances_employment/federal_budget--receipts_outlays_and_debt.html) Data YearFederal debt Chris Albright: Billions of dollars 1960290.5 1961292.6 1962302.9 1963310.3 1964316.1 1965322.3 1966328.5 1967340.4 1968368.7 1969365.8 1970380.9 1971408.2 1972435.9 1973466.3 1974483.9 1975541.9 1976629.0 1977706.4 1978776.6 1979829.5 1980909.0 1981994.8 19821,137.3 19831,371.7 19841,564.6 19851,817.4 19862,120.5 19872,346.0 19882,601.1 19892,867.8 19903,206.3 19913,598.2 19924,001.8 19934,351.0 19944,643.3 19954,920.6 19965,181.5 19975,369.2 19985,478.2 19995,605.5 20005,628.7 20015,769.9 20026,198.4 20036,760.0 20047,354.7 20057,905.3 20068,451.4 20078,950.7 20089,986.1 200911,875.9 201013,528.8 201115,476.2