A) Use a graphing utility to find the quadratic function of best fit that models the relation between age and median income. The quadratic function of best fit is y = [ ] x^2 + [ ] x - [ ] (d) Use the function in part (b) to predict the peak income earned. The predicted peak income is about $ [ ] (Round to the nearest dollar as needed.)
A) Use a graphing utility to find the quadratic function of best fit that models the relation between age and median income. The quadratic function of best fit is y = [ ] x^2 + [ ] x - [ ] (d) Use the function in part (b) to predict the peak income earned. The predicted peak income is about $ [ ] (Round to the nearest dollar as needed.)
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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Question
(A) Use a graphing utility to find the quadratic function of best fit that models the relation between age and median income.
The quadratic function of best fit is y
= [ ] x^2 + [ ] x - [ ]
(d) Use the function in part (b) to predict the peak income earned.
The predicted peak income is about $ [ ]
(Round to the nearest dollar as needed.)
Transcribed Image Text:An individual's income varies with age. The table
shows the median income I of individuals of
different age groups within the United States for
a certain year. For each age group, let the class
midpoint represent the independent variable x.
For the class "65 years and older," assume that
the class midpoint is 69.5.
Complete parts (a) through (e).
Age
15-24 years
25-34 years
35-44 years
45-54 years
55-64 years
65 years and older
Class
Midpoint,
X
19.5
29.5
39.5
49.5
59.5
69.5
Median
Income, I
$10,964
$33,132
$42,637
$45,693
$42,478
$23,500
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