The table below shows the number, in thousands, of vehicles parked in the central business district of a certain city on a typical Friday as a function of the hour of the day. Hour of the day Vehicles parked (thousands) 9 A.M. 6.2 11 A.M. 7.4 1 P.M. 7.5 3 P.M. 6.6 5 P.M. 3.9 (a) Use regression to find a quadratic model for the data. (Let V be the number of vehicles and t be the time in hours since midnight. Round the regression parameters to three decimal places.) V =        (b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.) V   =    =   thousand

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

The table below shows the number, in thousands, of vehicles parked in the central business district of a certain city on a typical Friday as a function of the hour of the day.

Hour of the day Vehicles parked
(thousands)
9 A.M. 6.2
11 A.M. 7.4
1 P.M. 7.5
3 P.M. 6.6
5 P.M. 3.9
(a) Use regression to find a quadratic model for the data. (Let V be the number of vehicles and t be the time in hours since midnight. Round the regression parameters to three decimal places.)
V = 
 
 
 


(b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.)
V
 
 = 
 
 = 
 thousand
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 1 images

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

What is the regression to find a quadratic model for the data? The answer above does not mae sense.

Solution
Bartleby Expert
SEE SOLUTION
Follow-up Question

Where is the quadratic model for the data?

Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Regression Model
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education