Chapter 4, Problem 51RE

Housing Prices The data in the table on the right represents the January median new-home prices in the United states for the years shown.

$\left(a\right)$ With a graphing utility, draw a scatter plot of the data. Comment on the type of relation that appears to exist between the two variables.

$\left(b\right)$ Decide on the function of best fit to these data $($ linear, quadratic, or cubic $)$, and use this function to predict the median new-phone price in the United States for January $2022$ $\left(t=10\right)$.

$\left(c\right)$ Draw the function of best fit on the scatter plot obtained in part $\left(a\right)$.