Chapter 3.5, Problem 60E

a.

To determine

To use the regression feature of a graphing utility to find a linear model and an exponential model for data.

Explanation of Solution

Given Information:

Two models for these data are given below-

  

Calculation:

Let us plot the data to graph the model for y1,

Let be the year which represents 1997 and here y1 and y2 represents the median prices. Midwest is denoted by and south is denoted by

Now, press the STAT key in first step and choose option1.

  

Second step is to write the values of L1 and L2.

  

Now, press to quit and return to the home.

Again, press STAT key and then choose CALC

  

Now, press option 6 to select LinReg for the model

Now, press to input in y1

  

Now, press ENTER key

This is the model for the data.

  

Now, for exponential model press to input in y4

Now, press ENTER key

This is the model for the data

  

b.

To determine

To use the graphing utility to graph the data and each model in the same viewing window.

Explanation of Solution

Here the graph is for linear model graph

  

Now, copy the linear model equation to the editor

Now, press to edit plot1 press ENTER and go down to type: and press ENTER to choose the graph and go downwards to Xlist, press for L1, press for L2.

Press to graph the data for linear model. If you don’t get the graph then press to zoomstat.

  

Here the graph is for exponential model graph:

  

Now, copy the linear model equation to the editor

Now, press to edit plot1 press ENTER and go down to type: and press ENTER to choose the graph and go downwards to Xlist, press for L1 and Ylist, press

  

Press to graph the data for linear model. If you don’t get the graph then press,

  

c.

To determine

To create the table comparing the data with estimates obtained from each model.

Explanation of Solution

Here, the table comparing the data estimates obtained from the model.

Now, first step is to press STAT key and then press option1.

  

Second step is to write the values of and

  

d.

To determine

To use the results of part (c) to find the sum of the absolute values of the differences between the data and estimated values.

Answer to Problem 60E

Yes, it is possible to pay twice as much as in interest charges as the size of the mortagage.

Explanation of Solution

Here, this is the table for the difference between the data and the estimate value.

Now, first step is to press STAT key and then press option1.

  

Second step is to write the values of and

  

And the sum of the value is and

Therefore, the model is totally fit in the above data.