The following table shows the median income, in thousands of dollars, of American families for 2003 through 2008.Year20032004Income (thousands of dollars)52.6854.06200556.19200658.412007200861.3661.52(a) Plot the data.HH62626161606059595858575756565555545453532004200520062007200820042005200620072008HH.62626161606059595858575756565555545453532004200520062007200820042005200620072008(b) Use exponential regression to construct an exponential model for the income data. (Let t be years since 2003 and H be the median household income in thousand of dollars.)OH = 62.520 x 0.967OH = 57.370 x 1.010OH = 71.932 x 0.856OH = 49.035 x 1.245O H = 52.587 x 1.035(c) What was the yearly percentage growth rate in median family income during this period? (Use the model found in part (b). Round your answer to one decimal place.)

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Description: The following table shows the median income, in thousands of dollars, of American families for 2003 through 2008.Year20032004Income (thousands of dollars)52.6854.06200556.19200658.412007200861.3661.52(a) Plot the data.HH62626161606059595858575756565

H = 52.587 x 1.035t For an exponential model: P = A x ( 1+r)t , r is called growth rate. Hence, for…

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The following table shows the median income, in thousands of dollars, of American families for 2003 through 2008. Income (thousands of dollars) Vear 2003 52.68 54.06 2004 2005 56.19 2006 58.41 2007 2008 61.36 61.52 (a) Plot the data. H H 62 62 61 61 60 60 59 59 58 58 57 57 56 56 55 55 54 54 53 53 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 H. H 62 62 61 61 60 60 59 59 58 58 57 57 56 56 55 54 54 53 53 L LLLL t 2007 2004 2005 2006 2008 2004 2005 2006 2007 2008 (b) Use exponential regression to construct an exponential model for the income data. (Let t be years since 2003 and H be the median household income in thousand of dollars.) OH= 62.520 x 0.967 OH = 57.370 x 1.010 OH = 71.932 x 0.856 OH = 49.035 x 1.245 O H = 52.587 x 1.035 (c) What was the yearly percentage growth rate in median family income during this period? (Use the model found in part (b). Round your answer to one decimal place.)

The following table shows the median income, in thousands of dollars, of American families for 2003 through 2008. Income (thousands of dollars) Vear 2003 52.68 54.06 2004 2005 56.19 2006 58.41 2007 2008 61.36 61.52 (a) Plot the data. H H 62 62 61 61 60 60 59 59 58 58 57 57 56 56 55 55 54 54 53 53 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 H. H 62 62 61 61 60 60 59 59 58 58 57 57 56 56 55 54 54 53 53 L LLLL t 2007 2004 2005 2006 2008 2004 2005 2006 2007 2008 (b) Use exponential regression to construct an exponential model for the income data. (Let t be years since 2003 and H be the median household income in thousand of dollars.) OH= 62.520 x 0.967 OH = 57.370 x 1.010 OH = 71.932 x 0.856 OH = 49.035 x 1.245 O H = 52.587 x 1.035 (c) What was the yearly percentage growth rate in median family income during this period? (Use the model found in part (b). Round your answer to one decimal place.)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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