Nicole Mariana and Deibey Nicolas, the Fajardo Rincon twins, ran a summer business. They put their earnings in the bank. They moved t a different town but decided to leave their money in the bank to earn interest. Their father said they could withdraw money from the account after 5 years. Here is the account information for the first 4 years in the account. year amount 382.88 1 402.02 2 422.12 3 443.23 4 465.39 Use the regression calculator to determine the best function to represent this data. a. What is the prediction equation that best fits this data? Describe its shape and why you chose that type of function. b. Use the equation to predict how much money will be in the account after 5 years. c. Use the equation to predict how much money will be in the account after 10 years if they leave it in the bank that long.
Nicole Mariana and Deibey Nicolas, the Fajardo Rincon twins, ran a summer business. They put their earnings in the bank. They moved t a different town but decided to leave their money in the bank to earn interest. Their father said they could withdraw money from the account after 5 years. Here is the account information for the first 4 years in the account. year amount 382.88 1 402.02 2 422.12 3 443.23 4 465.39 Use the regression calculator to determine the best function to represent this data. a. What is the prediction equation that best fits this data? Describe its shape and why you chose that type of function. b. Use the equation to predict how much money will be in the account after 5 years. c. Use the equation to predict how much money will be in the account after 10 years if they leave it in the bank that long.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Nicole Mariana and Deibey Nicolas, the Fajardo Rincon twins, ran a summer business. They put their earnings in the bank. They moved to a different
town but decided to leave their money in the bank to earn interest. Their father said they could withdraw money from the account after 5 years.
Here is the account information for the first 4 years in the account.
year
amount
382.88
1
402.02
422.12
443.23
465.39
5
Use the regression calculator to determine the best function to represent this data.
a. What is the prediction equation that best fits this data? Describe its shape and why you chose that type of function.
b. Use the equation to predict how much money will be in the account after 5 years.
c. Use the equation to predict how much money will be in the account after 10 years if they leave it in the bank that long.
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