Why local business economy is heating up or cooling down

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Reference no: EM13141794

A small independent bank makes loans as small as for horses and pickup trucks to items as large as tracts of land. Total monthly loan requests are used by bank officials as an indicator of economic business conditions in the community. The mean monthly loan request for the past several years has been 615.1 (in thousands of dollars) with a standard deviation of 11.2 (in thousands of dollars). The distribution of loan requests is approximately mound shaped and symmetrical. The table below gives the loan requests (in thousands of dollars) for the past 12 months. Would you say that the local business economy is heating up or cooling down? Explain your answer. Graph the data.

Month 1 2 3 4 5 6 7 8 9 10 11 12
Loan request 619.3 625.1 610.2 614.2 630.4 615.9 617.2 610.1 592.7 596.4 585.1 588.2

Reference no: EM13141794

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