The line graph shows the cost of inflation. What cost $10,000 in 1984 would cost the amount shown by the graph in subsequent years.
The Cost of Inflation
Source: U.S. Bureau of Labor Statistics
Here are two mathematical models for the data shown by the graph. In each formula, C represents the cost x years after 1990 of what cost $10,000 in 1984.
Use these models to solve Exercises 69 – 74.
Which model is a better description for the cost in 2013 of what cost $10,000 in 1984?
Does this model underestimate or overestimate the cost shown by the graph? By how much?
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