a. Plot the data. b. Use exponential regression to construct an expo- nential model for the income data. c. What was the yearly percentage growth rate in median family income during this period? d. From 2003 through 2008, inflation was about 3% per year. Did median family income keep pace with inflation during this period?

a. Plot the data. b. Use exponential regression to construct an expo- nential model for the income data. c. What was the yearly percentage growth rate in median family income during this period? d. From 2003 through 2008, inflation was about 3% per year. Did median family income keep pace with inflation during this period?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

10. Household Income The following table shows the
median income, in thousands of dollars, of Ameri-
can families for 2003 through 2008.
Year
Income (thousands of dollars)
2003
52.68
2004
54.06
2005
56.19
2006
58.41
2007
61.36
2008
61.52

a. Plot the data.
b. Use exponential regression to construct an expo-
nential model for the income data.
c. What was the yearly percentage growth rate in
median family income during this period?
d. From 2003 through 2008, inflation was about
3% per year. Did median family income keep
pace with inflation during this period?

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