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.) %
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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