Applied Mathematics Frank Budnick Solution Manual.rar
A:
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      1) Objective
      Describe how the problem is defined and how it can be
        described
      Growth of an economy is measured by Gross National Product (GNP), which is
        the sum of income plus the change in personal property less the change in
        personal consumption and government spending. This is known as the three
        component approach, because we need to know the change in income, the change
        in personal property, and the change in consumption.
      
      
      2) Problem statement
      This problem presents the Gross National Product growth as a function
        of time in 1960 and 1970. Note that it is a state variable (as opposed to a
        time variable). Let us consider GNP in 1960 as X and that in 1970 as Y.
      
      
      3) Background
      The data is obtained from Monthly Review of the US National Bureau of
        Statistics. In order to show the basic trend of GNP growth, only the
        panel data is used to remove the seasonal variations.
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Applied Mathematics Frank Budnick Solution Manual.rar quincons