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For #13-15: The average retail electricity prices in the U.S. from 1970 to 2005 are shown below. Projected prices for 2010 and 2020 are also shown. (x = 0 represents the year 1970). Year 1970 1974 1980 1982 1990 Price (Cents/kWh) b. y = 6.125 7 7.25 9.625 8 Year 1995 2000 2005 2010 2020 3 13. Which equation below BEST represents the above data? a. y .22283x + 7.61598 2 - .002019x +,074307x + 6.93717 Price (cents/kWh) C. y .0002135x -.018155x+.38348x+5.97611 d. y = 1.0034x4-7.998x³ - 10.0054x+.367 7.5 6.625 6.25 6.25 6.375 14. Use the answer from #13 to predict the average price of electricity in 2015. 15. According to the model, during which year was the price $0.07 for the second time?

For #13-15: The average retail electricity prices in the U.S. from 1970 to 2005 are shown below. Projected prices for 2010 and 2020 are also shown. (x = 0 represents the year 1970). Year 1970 1974 1980 1982 1990 Price (Cents/kWh) b. y = 6.125 7 7.25 9.625 8 Year 1995 2000 2005 2010 2020 3 13. Which equation below BEST represents the above data? a. y .22283x + 7.61598 2 - .002019x +,074307x + 6.93717 Price (cents/kWh) C. y .0002135x -.018155x+.38348x+5.97611 d. y = 1.0034x4-7.998x³ - 10.0054x+.367 7.5 6.625 6.25 6.25 6.375 14. Use the answer from #13 to predict the average price of electricity in 2015. 15. According to the model, during which year was the price $0.07 for the second time?

Advanced Engineering Mathematics
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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**Average Retail Electricity Prices in the U.S. (1970-2020)** The table below displays the average retail electricity prices in the U.S. from 1970 to 2005. It also includes projected prices for 2010 and 2020. Here, the variable \( x \) represents the year 1970 as \( x = 0 \). | Year | Price (Cents/kWh) | Year | Price (Cents/kWh) | |------|------------------|------|-------------------| | 1970 | 6.125 | 1995 | 7.5 | | 1974 | 7 | 2000 | 6.625 | | 1980 | 7.25 | 2005 | 6.25 | | 1982 | 9.625 | 2010 | 6.25 | | 1990 | 8 | 2020 | 6.375 | **Question 13:** Determine which of the following equations best represents the data provided above. - (a) \( y = -0.22283x + 7.61598 \) - (b) \( y = -0.002019x^2 + 0.074307x + 6.93717 \) - (c) \( y = 0.0002135x^3 - 0.018155x^2 + 0.38348x + 5.97611 \) - (d) \( y = 1.0034x^4 - 7.998x^3 - 10.0054x + 0.367 \) **Question 14:** Using the best-fit equation from Question 13, predict the average price of electricity in 2015. **Question 15:** According to the model, during which year was the price $0.07 (7 cents) for the second time? The table portrays historical and projected electricity pricing trends, providing insights into fluctuations and trends over time. This can be used to understand pricing behavior and model future scenarios.
Transcribed Image Text:**Average Retail Electricity Prices in the U.S. (1970-2020)** The table below displays the average retail electricity prices in the U.S. from 1970 to 2005. It also includes projected prices for 2010 and 2020. Here, the variable \( x \) represents the year 1970 as \( x = 0 \). | Year | Price (Cents/kWh) | Year | Price (Cents/kWh) | |------|------------------|------|-------------------| | 1970 | 6.125 | 1995 | 7.5 | | 1974 | 7 | 2000 | 6.625 | | 1980 | 7.25 | 2005 | 6.25 | | 1982 | 9.625 | 2010 | 6.25 | | 1990 | 8 | 2020 | 6.375 | **Question 13:** Determine which of the following equations best represents the data provided above. - (a) \( y = -0.22283x + 7.61598 \) - (b) \( y = -0.002019x^2 + 0.074307x + 6.93717 \) - (c) \( y = 0.0002135x^3 - 0.018155x^2 + 0.38348x + 5.97611 \) - (d) \( y = 1.0034x^4 - 7.998x^3 - 10.0054x + 0.367 \) **Question 14:** Using the best-fit equation from Question 13, predict the average price of electricity in 2015. **Question 15:** According to the model, during which year was the price $0.07 (7 cents) for the second time? The table portrays historical and projected electricity pricing trends, providing insights into fluctuations and trends over time. This can be used to understand pricing behavior and model future scenarios.
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