A hotel is monitoring how the number of increases in price affects the weekly profit. The table models the weekly profit, y, after a given number of price increases, x. x (price increases) 1 3 4 5 y (weekly profit in dollars) 61,000 66,000 69,000 70,000 69,000 66,000 0 Which type of model would best fit the data? 2 O The data is best modeled by a quadratic function because the weekly profit increases to a maximum and then decreases. O The data is best modeled by a quadratic function because the weekly profit decreases to a minimum and then increases. O The data is best modeled by an exponential growth function because the weekly profit increases to a maximum and then decreases. O The data is best modeled by an exponential decay function because the weekly profit decreases to a minimum and then increases.
A hotel is monitoring how the number of increases in price affects the weekly profit. The table models the weekly profit, y, after a given number of price increases, x. x (price increases) 1 3 4 5 y (weekly profit in dollars) 61,000 66,000 69,000 70,000 69,000 66,000 0 Which type of model would best fit the data? 2 O The data is best modeled by a quadratic function because the weekly profit increases to a maximum and then decreases. O The data is best modeled by a quadratic function because the weekly profit decreases to a minimum and then increases. O The data is best modeled by an exponential growth function because the weekly profit increases to a maximum and then decreases. O The data is best modeled by an exponential decay function because the weekly profit decreases to a minimum and then increases.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A hotel is monitoring how the number of increases in price affects the weekly profit. The table models the weekly profit, \( y \), after a given number of price increases, \( x \).
| \( x \) (price increases) | 0 | 1 | 2 | 3 | 4 | 5 |
|-------------------------------|-------|-------|-------|-------|-------|-------|
| \( y \) (weekly profit in dollars) | 61,000 | 66,000 | 69,000 | 70,000 | 69,000 | 66,000 |
**Which type of model would best fit the data?**
- ○ The data is best modeled by a quadratic function because the weekly profit increases to a maximum and then decreases.
- ○ The data is best modeled by a quadratic function because the weekly profit decreases to a minimum and then increases.
- ○ The data is best modeled by an exponential growth function because the weekly profit increases to a maximum and then decreases.
- ○ The data is best modeled by an exponential decay function because the weekly profit decreases to a minimum and then increases.
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