Concept explainers
Cable Rates The data on the right represent the average monthly rate charged for expanded basic cable television in the United States from 1995 to 2014. A market researcher believes that external factors, such as the growth of satellite television and internet programming, have affected the cost of basic cable. She is interested in building a model that will describe the average monthly cost of basic cable.
(a) Using a graphing utility, draw a
(b) Using a graphing utility, build a logistic model from the data.
(c) Graph the logistic function found in part (b) on the scatter diagram.
(d) Based on the model found in part (b), what is the maximum possible average monthly rate for basic cable?
(e) Use the model to predict the average rate for basic cable in 2018.
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