The value of Amy's car depreciated each year after she bought it. The function v(t) = 24, 893(0.88)' represents the value of Amy's car %3D t years after she bought it. What is the rate of depreciation? 88% 12% 0.88% O 0.12% Question 7 The Miller family and the Adams family both purchased houses on the same day several years ago. The Miller family bought their house for $159,352 and it has been increasing in value by 3.7% each year The value of the Adams family's home since it was purchased, A(z), can be modeled by the function A(z) 142,809(1.04)² , where z represents the number of years since the house was purchased. Part A: Which family paid more for their house? The Adams Family Part B: Which family's home value is increasing at a faster rate? The Miller Family

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.