The following table shows the average price of a two-bedroom apartment in downtown New York City during the real estate boom from 1994 to 2004.† t 0 (1994) 2 4 6 8 10 (2004) Price ($ million) 0.38 0.40 0.60 0.95 1.20 1.60 (a) Use exponential regression to model the price P(t) as a function of time t since 1994. (Round the coefficients to 3 decimal places.) P(t) = Select a sketch of the points and the regression curve. b) Extrapolate your model to estimate the cost of a two-bedroom downtown apartment in 2005. (Round your answer to one decimal place.)$ million
The following table shows the average price of a two-bedroom apartment in downtown New York City during the real estate boom from 1994 to 2004.† t 0 (1994) 2 4 6 8 10 (2004) Price ($ million) 0.38 0.40 0.60 0.95 1.20 1.60 (a) Use exponential regression to model the price P(t) as a function of time t since 1994. (Round the coefficients to 3 decimal places.) P(t) = Select a sketch of the points and the regression curve. b) Extrapolate your model to estimate the cost of a two-bedroom downtown apartment in 2005. (Round your answer to one decimal place.)$ million
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The following table shows the average price of a two-bedroom apartment in downtown New York City during the real estate boom from 1994 to 2004.†
| t | 0 (1994) | 2 | 4 | 6 | 8 | 10 (2004) |
|---|---|---|---|---|---|---|
| Price ($ million) |
0.38 | 0.40 | 0.60 | 0.95 | 1.20 | 1.60 |
(a) Use exponential regression to model the price P(t) as a function of time t since 1994. (Round the coefficients to 3 decimal places.)
Select a sketch of the points and the regression curve.
$ million
| P(t) = |
|
Select a sketch of the points and the regression curve.
| b) Extrapolate your model to estimate the cost of a two-bedroom downtown apartment in 2005. (Round your answer to one decimal place.) |
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