The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private universities in the school year beginning in the given year. Date Average tuition 2012 $27,870 2013 $29,004 2014 $30,138 2015 $31,272 2016 $32,406 (a) Show that these data can be modeled by a linear function. For each change of 1 year in time there is an increase of $ in tuition. Find its formula. (Let d be the date in terms of number of years since 2012 and T tuition in dollars.) T(d) = (b) Plot the data points and add the graph of the linear formula you found in part (a). (c) What prediction does this formula give for average tuition and fees at four-year American private universities for the academic year ending in 2018? $
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private universities in the school year beginning in the given year.
| Date | Average tuition |
|---|---|
| 2012 | $27,870 |
| 2013 | $29,004 |
| 2014 | $30,138 |
| 2015 | $31,272 |
| 2016 | $32,406 |
Find its formula. (Let d be the date in terms of number of years since 2012 and T tuition in dollars.)
(b) Plot the data points and add the graph of the linear formula you found in part (a).
(c) What prediction does this formula give for average tuition and fees at four-year American private universities for the academic year ending in 2018?
$
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 5 images
