1. Use the data given to solve the following problems. Savings needed for Health-Care Expenses During Retirement Age at Death 80 85 90 J Savings Needed $219,000 $307,000 $409,000 $524,000 $656,000 95 100 Source: Employee Benefit Research Institute ER a.) Use a graphing calculator or Desmos to create a scatterplot of the data. Upload an image of that b.) Use the graphing utility's regression option to compare the following models: y=ab*, y= a + blnx, y= ax+b, and y = axb. Submit a sketch or image of each. c.) Discuss how each of the regression curves in part b fit the data by looking at the correlation constant r. d.) Use the model (equation) with the best correlation constant, r from part c and predict by which year the population will reach 315 million.
1. Use the data given to solve the following problems. Savings needed for Health-Care Expenses During Retirement Age at Death 80 85 90 J Savings Needed $219,000 $307,000 $409,000 $524,000 $656,000 95 100 Source: Employee Benefit Research Institute ER a.) Use a graphing calculator or Desmos to create a scatterplot of the data. Upload an image of that b.) Use the graphing utility's regression option to compare the following models: y=ab*, y= a + blnx, y= ax+b, and y = axb. Submit a sketch or image of each. c.) Discuss how each of the regression curves in part b fit the data by looking at the correlation constant r. d.) Use the model (equation) with the best correlation constant, r from part c and predict by which year the population will reach 315 million.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:1. Use the data given to solve the following problems.
Savings needed for Health-Care Expenses During Retirement
Age at Death
80
85
90
V
Savings Needed
$219,000
$307,000
$409,000
$524,000
$656,000
95
100
Source: Employee Benefit Research Institute
a.) Use a graphing calculator or Desmos to create a scatterplot of the data. Upload an
image of that
b.) Use the graphing utility's regression option to compare the following models: y=ab*,
y= a + blnx, y= ax+b, and y = axb. Submit a sketch or image of each.
c.) Discuss how each of the regression curves in part b fit the data by looking at the
correlation constant r.
d.) Use the model (equation) with the best correlation constant, r from part c and predict
by which year the population will reach 315 million.
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