(a) Find the quadratic function that best models the developing economies' share of the global GDP as a function of the number of years after 2000. (Round all numerical values to four decimal places.) y(x) = (b) Use technology to find the maximum share of GDP that the developing economies can achieve, according to this model. (Round your answer to one decimal place.) The model predicts that in the year ---Select--- 2005 2010 2017 2027 2030 , developing economies reach their maximum share, %, of the GDP.
(a) Find the quadratic function that best models the developing economies' share of the global GDP as a function of the number of years after 2000. (Round all numerical values to four decimal places.) y(x) = (b) Use technology to find the maximum share of GDP that the developing economies can achieve, according to this model. (Round your answer to one decimal place.) The model predicts that in the year ---Select--- 2005 2010 2017 2027 2030 , developing economies reach their maximum share, %, of the GDP.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The developing economies' share of the global
| Year | Share (% of GDP) |
Year | Share (% of GDP) |
|---|---|---|---|
| 2003 | 20 | 2011 | 35 |
| 2004 | 22 | 2012 | 38 |
| 2005 | 23 | 2013 | 39 |
| 2006 | 27 | 2014 | 40 |
| 2007 | 28 | 2015 | 41 |
| 2008 | 31 | 2016 | 42 |
| 2009 | 31 | 2017 | 43 |
| 2010 | 33 |
(a) Find the quadratic function that best models the developing economies' share of the global GDP as a function of the number of years after 2000. (Round all numerical values to four decimal places.)
y(x) =
(b) Use technology to find the maximum share of GDP that the developing economies can achieve, according to this model. (Round your answer to one decimal place.)
y(x) =
(b) Use technology to find the maximum share of GDP that the developing economies can achieve, according to this model. (Round your answer to one decimal place.)
The model predicts that in the year ---Select--- 2005 2010 2017 2027 2030 , developing economies reach their maximum share, %, of the GDP.
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