The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. C(1) 210 180 150 120 90 60 30 0 0 آله 3 6 9 12 15 19 21 24' Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature. price. The median home price was $ thousand at the start of 2000 (r= 0). when it stood at $ The median home price has two low points; first in the year and again in the year The median home price was decreasing most rapidly at the start of the year | when it was $ Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of $ thousand; the median home price peaked at the start of the year when it s $$ thousand, and increasing most rapidly at the start of the year [ thousand in the long term. at $ thousand. terms of the median hom- thousand.

7. A worker gets $20/hour for a normal work week of 40 hours and time-and-a-half for overtime. Assuming he works at least 40 hours a week, construct a function describing his weekly paycheck as a function of the number of hours worked.

II.

The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. (Fill in blanks)

The consumption function captures one of the key relationships in economics. It expresses consumption as a function of disposal income, where disposable income is income after taxes. The attached file “Quiz_dataset2” shows data of average US annual consumption (in $) and disposable income (in $) for the years 2000 to 2016.  What is the predicted consumption if the disposable income is $30,000?  Select one: a. 2365.7 b. None of the above  c. 32645.9 d. 2365.6