Explanation Given: The following table shows the income, measured in thousands of dollars, from sales of a certain magazine at the start of the given year. Year 2012 2013 2014 2015 2016 Income 8.10 8.59 9.10 9.65 10.23 Table ( 1 ) Approach: 1. When the plot of the data appears to be exponential in shape, using regression to find a model may be appropriate. The real-world context can provide important confirmation that an exponential model is appropriate 2. The exponential function to model the data is given as, N = a × b t …… ( 1 ) Here, N is the population, t is time, a is initial value of regression model, and b is growth factor of regression model. To calculate the exponential regression, following steps are given, 1. First turn on the graphing calculator. 2

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN: 9781337111348

Author: Bruce Crauder, Benny Evans, Alan Noell

Publisher: Cengage Learning

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Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

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Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as p…

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Chapter 4.4, Problem 8E

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An exponential model for the income.

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Chapter 4.4, Problem 7E

Chapter 4.4, Problem 9E

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Chapter 4 Solutions

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

Ch. 4.1 - TEST YOUR UNDESTANDING| FOR EXAMPLE 4.1...Ch. 4.1 - TEST YOUR UNDERSTANDING| FOR EXAMPLE 4.2 In a...Ch. 4.1 - Prob. 3TU Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...

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An exponential model for the income.

Solution Summary: The author explains how to find an exponential model for the income from sales of a certain magazine.

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To find:

An exponential model for the income.