For this exercise, round all regression parameters to three decimal places. The table below shows the estimated value C, in dollars, of an 1877 Indian Head Cent (Philadelphia mint mark) in very fine condition t years after 1950. C = value in dollars t = time in years since 1950 0 30 45 54 60 25 400 C = 29.490 x 1.076¹ O c = 28.981 x 0.268¹ 625 1750 2000 (a) Use exponential regression to model C as an exponential function of t. C = 18.460 x 0.598 Oc= 24.657 x 1.250 O c = 32.489 x 1.022² (b) According to your exponential model, by what percentage does the value of the 1877 cent increase from year to year? (Use the model found in part (a). Rour your answer to one decimal place.) %
For this exercise, round all regression parameters to three decimal places. The table below shows the estimated value C, in dollars, of an 1877 Indian Head Cent (Philadelphia mint mark) in very fine condition t years after 1950. C = value in dollars t = time in years since 1950 0 30 45 54 60 25 400 C = 29.490 x 1.076¹ O c = 28.981 x 0.268¹ 625 1750 2000 (a) Use exponential regression to model C as an exponential function of t. C = 18.460 x 0.598 Oc= 24.657 x 1.250 O c = 32.489 x 1.022² (b) According to your exponential model, by what percentage does the value of the 1877 cent increase from year to year? (Use the model found in part (a). Rour your answer to one decimal place.) %
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:For this exercise, round all regression parameters to three decimal places.
The
table below shows the estimated value C, in dollars, of an 1877 Indian Head Cent (Philadelphia mint mark) in very fine condition t years after 1950.
t = time in
years since 1950
0
30
45
54
60
C = value
in dollars
25
400
625
1750
2000
Use exponential regression to model C as an exponential function of t.
C = 18.460 x 0.598
Oc= 24.657 x 1.250
O c = 32.489 x 1.022²
ⒸC= 29.490 x 1.076
Oc= 28.981 x 0.268
(b) According to your exponential model, by what percentage does the value of the 1877 cent increase from year to year? (Use the model found in part (a). Round
your answer to one decimal place.)
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