Concept explainers
Polynomial Models Use a graphing calculator to do the following cubic and quartic regression problems. (See Examples 5 and 6.)
Consumer Confidence The Conference Board's consumer confidence index (CCl) is listed for the years 2008 to 2015 in the table below. (Data from: The Conference Board.)
Year | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
CCI | 88 | 40 | 57 | 65 | 62 | 58 | 79 | 104 |
a. Plot the data with
b. Use quartic regression to find a fourth-order polynomial function
c. Graph
d. What does the model estimate for the CCI in 2015? Is this close to the actual index value shown in the table?
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