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Federal flood insurance underwritten by the federal government was initiated in 1968. This federal flood insurance coverage has, according to USA Today (“How You Pay for People to Build in Flood Zones,” September 21, 2005), more than tripled in the past 15 years. A file titled Flood contains the amount of federal flood insurance coverage for each of the years from 1990 to 2004. a. Produce a line plot for these data. b. Describe the type of relationship between the year and the amount of federal flood insurance. c. Determine the average increase per year in federal flood insurance.
The Office of Management and Budget keeps data on many facets of corporations. One item that has become a matter of concern is the number of applications for patents submitted compared to the backlog of applications that have not been processed by the end of the year. A file titled Patent provides data extracted from a USA Today article that addresses the problem.
a. Construct the two line plots on the same axes.
b. Determine the types of relationships that exist between the years and the two patent-related variables.
c. During which year(s) did the backlog of applications at the end of the year equal approximately the same number of patent applications?