Question 2.305

percapitaincome

27. Per Capita Income. The following data represent the per capita income in the United States from 1967 to 2012, in thousands of constant (2012) dollars.

Year Per capita
income
$1000s		 Year Per capita
income
$1000s		 Year Per capita
income
$1000s
1967 15 1983 21 1998 28
1968 16 1984 22 1999 29
1969 17 1985 22 2000 30
1970 17 1986 23 2001 30
1971 17 1987 24 2002 29
1972 18 1988 24 2003 29
1973 19 1989 25 2004 29
1974 19 1990 25 2005 29
1975 19 1991 24 2006 30
1976 19 1992 24 2007 30
1977 20 1993 25 2008 29
1978 21 1994 25 2009 28
1979 21 1995 26 2010 28
1980 21 1996 26 2011 28
1981 21 1997 27 2012 28
1982 21
Table 2.97: Source: U.S. Census Bureau.
  1. Construct a time series plot of the per capita income.
  2. A fairly constant increasing trend occurs. In what year does this trend appear to end?

2.3.27

(a)

image

(b) 2008