Debt ($) 620.00 761.88 899.80 1039.93 1270.63 1589.04 1851.31 2154.92 a. Use exponential regression to fit a model to these data. Give the equation found in explicit form. b. If spending continues at this rate, what will the graduate's credit card debt be one year after graduating?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
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7. The table below shows a recent graduate's credit card balance each month after
graduation.
Month
1
3
4
5
6
7
8
Debt ($) 620.00 761.88 899.80 1039.93
1270.63
1589.04
1851.31
2154.92
a. Use exponential regression to fit a model to these data. Give the equation
found in explicit form.
b. If spending continues at this rate, what will the graduate's credit card debt be
one year after graduating?
Transcribed Image Text:7. The table below shows a recent graduate's credit card balance each month after graduation. Month 1 3 4 5 6 7 8 Debt ($) 620.00 761.88 899.80 1039.93 1270.63 1589.04 1851.31 2154.92 a. Use exponential regression to fit a model to these data. Give the equation found in explicit form. b. If spending continues at this rate, what will the graduate's credit card debt be one year after graduating?
Expert Solution
Step 1

Given,

Month Debt
1 620
2 761.88
3 899.8
4 1039.93
5 1270.63
6 1589.04
7 1851.31
8 2154.92
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