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Concept explainers
(a)
To find: The
(a)
![Check Mark](/static/check-mark.png)
Answer to Problem 13AYU
The required plot is shown in Figure 1
Explanation of Solution
Given:
The given table is shown in table 1
Table 1
Age(x) | Price (y) |
1 | 27417 |
1 | 26750 |
2 | 22995 |
2 | 23195 |
3 | 17999 |
4 | 16995 |
4 | 16490 |
Calculation:
Consider the asking price as the dependent variable then the scatter plot for the function is shown in Figure 1
Figure 1
(b)
To find: The exponential model from the given data.
(b)
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Answer to Problem 13AYU
The model seems to be the exponential function as the model is the theory of finance.
Explanation of Solution
From the graph shown in Figure 1, and the given data the model seems to be the exponential function as the model is the theory of finance.
(c)
To find: The expression for the best fit model.
(c)
![Check Mark](/static/check-mark.png)
Answer to Problem 13AYU
The required model is
Explanation of Solution
From the scatter plot shown in Figure 1, the best fit model is,
(d)
To find: The scatter plot for the best fit model.
(d)
![Check Mark](/static/check-mark.png)
Answer to Problem 13AYU
The best fit model is shown in Figure 2
Explanation of Solution
Consider the best fit model is,
The required plot is shown in Figure 2
Figure 2
(e)
To find: The prediction for the asking price of Chevrolet Impala SS that is 5 years old.
(e)
![Check Mark](/static/check-mark.png)
Answer to Problem 13AYU
Theasking price is
Explanation of Solution
Consider the best fit model is,
Then, the asking price of Chevrolet Impala SS that is 5 years old.
Chapter 5 Solutions
Precalculus
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