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. Age Class Midpoint, x. Median Income, I 15-24 years 25-34 years 29.5 $32,131.00 35-44 years 45-54 years 55-64 years 59.5 65 years and older 69.5 $23,500.00 Using Excel, find the quadratic function of best fit the median income with respect to class midpoint age. Please show/explain the steps to finding the answer using excel. 19.5 $10,963.00 39.5 $41,636.00 49.5 $44,692.00 $41,477.00
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. Age Class Midpoint, x. Median Income, I 15-24 years 25-34 years 29.5 $32,131.00 35-44 years 45-54 years 55-64 years 59.5 65 years and older 69.5 $23,500.00 Using Excel, find the quadratic function of best fit the median income with respect to class midpoint age. Please show/explain the steps to finding the answer using excel. 19.5 $10,963.00 39.5 $41,636.00 49.5 $44,692.00 $41,477.00
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: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.
Age Class Midpoint, x. Median Income, I
15-24 years
25-34 years 29.5 $32,131.00
35-44 years 39.5 $41,636.00
45-54 years
55-64 years 59.5
65 years and older 69.5 $23,500.00
Using Excel, find the quadratic function of
best fit the median income with respect to
class midpoint age.
Please show/explain the steps to finding the
answer using excel.
19.5
$10,963.00
49.5 $44,692.00
$41,477.00
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