Concept explainers
DECLINING NUMBER OF PAY PHONES As cell phones proliferate, the number of pay phones continues to drop. The number of pay phones from
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a. Plot the number of pay phones
b. Draw the straight line
c. Derive an equation for the line
d. Assuming that the trend continues, estimate the number of pay phones in
Source: FCC
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Chapter 1 Solutions
Finite Mathematics for the Managerial, Life, and Social Sciences-Custom Edition
- Table 6 shows the year and the number ofpeople unemployed in a particular city for several years. Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the number of unemployed reach 5 people?arrow_forwardDVD Player sales The table shows the number of DVD play-ers sold in a small electronics store in the years 2003-2013. What was the average rate of change of sales between 2003 and 2013? Whatwas the average rate of change of sales between 2003 and 2004? What was the average rate of change of sales between 2004 and 2005? Between which two successive years did DVD player sales increase most quickly?arrow_forwardDoes Table 2 represent a linear function? If so, finda linear equation that models the data.arrow_forward
- Researchers initiated a long-term study of the population of American black bears. One aspect of the study was to develop a model that could be used to predict a bear's weight (since it is not practical to weigh bears in the field). One variable thought to be related to weight is the length of the bear. The accompanying data represent the lengths and weights of 12 American black bears. Complete parts (a) through (d) below. Click the icon to view the data table. Click the icon to view the critical values table. ..... (a) Which variable is the explanatory variable based on the goals of the research? O A. The number of bears B. The weight of the bear O C. The length of the bear (b) Draw a scatter diagram of the data. Choose the correct graph below. O A. O B. O C. D. A Weight (kg) 180- AWeight (kg) 180- ALength (cm) 180- A Weight (kg) 180- 40- 100 40- 100 Length (cm) 40- 100 40- 100 200 200 200 200 Length (cm) Weight (kg) Length (cm) (c) Determine the linear correlation coefficient between…arrow_forwardA property analyst is examining the relationship between the City Council's valuation on residential property and the market value (selling price) of the properties. A random sample of 8 recent property transactions were examined. The data is recorded in the tables below. Find the intercept (rounded off to four decimals). 1 2 3 4 5 6 7 8 A. 0.0892 B. -4.0293 OC. 6.7128 D. 1.285 City Council valuation (R1000) 12 45 32 50 28 56 18 40 Market value (R1000) 65 220 142 310 196 364 116 260 SSxy=10319.875 SSY = 70990.875 Exy=69084 b = 6.1912 SSX 1666.875 x = 34.4286 y=209.125arrow_forwardCreate a line graph of the data using Excel. For how many of the years was the deficit greater than or equal to $320 million?arrow_forward
- The earnings per share for a social media company were $5.19 in 2017 and $7.53 in 2018. Use the midpoint formula to estimate the earnings (in dollars) per share in 2019. Assume that the earnings per share followed a linear pattern. $_______ per sharwarrow_forwardThe accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d) below. = -10.711 +28.9000X₁ ₁ = 22.70 +0.259X; +3.5801X? Click the icon to view the data table. a. Compute the standard error of the estimate (Syx) for each model. Linear Quadratic Syx 22.431 8.032 (Round to three decimal places as needed.) b. Compute the MAD for each model. Linear Quadratic MAD 64.222 66.873 (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? The model with the smallest values of Syx and MAD should be used, which is the quadratic model.arrow_forwardThe accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d) below. Y₁ = -9.689 +28.8667X₁ Y₁ = 21.02 +2.546X; +3.2900X² Click the icon to view the data table. a. Compute the standard error of the estimate (Syx) for each model. Linear Quadratic Syx (Round to three decimal places as needed.) b. Compute the MAD for each model. Linear Quadratic MAD (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? The model with the ✔values of Syx and MAD should be used, which is the ▼model. Yearly Amount of Solar Power Installed Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 Amount (megawatts) 13 30 44 Print 73 86 95 145 214 252 Q Done Xarrow_forward
- Select your answers from the drop-down lists.arrow_forwardThe scatter plot shows the annual profit for a certain airline (in millions of dollars) for years between 2000 and 2010. The equation of the trend line shown is y = 0.2x +4.1, where x represents the number of years since 2000 and y represents the profit. Use the equation to estimate the profit in 2002. Airline Revenue 10 8- 7. 4 10 Years Since 2000 In 2002, the profit was about $ million. (Type an integer or a decimal.)arrow_forwardThe accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d) below. Y = -11.578 +28.7000X Y₁ = 19.29 +2.241X; +3.3074X Click the icon to view the data table. a. Compute the standard error of the estimate (Syx) for each model. Linear Syx (Round to three decimal places as needed.) b. Compute the MAD for each model. Linear Quadratic The model with the Quadratic ... MAD (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? ✓values of Syx and MAD should be used, which is the model. Yearly Amount of Solar Power Installed Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 Print Amount (megawatts) 15 24 41 66 86 100 138 210 249 D Donearrow_forward
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