Median Sale Price The median sale price p (in thousands of dollars) of an existing one-family home in the United States from 2002 through 2014 (see figure) can be approximated by the model.
Where t represents the year, with
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- Fill in the blanks. Statisticians use a measure called the ________ of the ________ ________ to find a model that approximates a set of data most accurately.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_forwardDVD Player Sales The table shows the number of DVD players sold in a small electronics store in the years 2003-2013. Year DVD players sold 2003 495 2004 513 2005 410 2006 402 2007 520 2008 580 2009 631 2010 719 2011 624 2012 582 2013 635 aWhat was the average rate of change of sales between 2003 and 2013? bWhat was the average rate of change of sales between 2003 and 2004? cWhat was the average rate of change of sales between 2004 and 2005? dBetween which two successive years did DVD player sales increase most quickly? Decrease most quickly?arrow_forward
- Grade Point Average In many universities students are given grade points for each credit unit according to the following scale: A 4 points B 3 points C 2 points D 1 point F 0 point For example, a grade of A in a 3-unit course earns 43=12 grade points and a grade of B in a 5-unit course earns 35=15 grade points. A students grade point average GPA for these two courses is the total number of grade points earned divided by the number of units; in this case the GPA is (12+15)8=3.375. a Find a formula for the GPA of a student who earns a grade of A in a units of course work, B in b units, C in c units, D in d units and F in f units. b Find the GPA of a student who has earned a grade of A in two 3-unit courses, B in one 4-unit courses and C in three 3-unit courses.arrow_forwardChemists’ Wages The mean hourly wage W (in dollars) of chemists in the United States from 2000 through 2014 can be modeled by W=0.903t+26.08,0t14 where t represents the year, with t=0 corresponding to 2000. (a) According to the model, when was the mean hourly wage at least $30, but no more than $32? (b) Use the model to predict when the mean hourly wage will exceed $45.arrow_forwardMortgage Rates The following table is taken from the website of Freddie Mac. It shows rates for 30-year fixed-rate mortgages since 1970. y=Year r=Mortgagerate 1975 9.05 1980 13.74 1985 12.43 1990 10.13 1995 7.93 2000 8.05 2005 5.87 2010 4.69 2015 3.84 a. Explain in practical terms the meaning of r(2003). b. Use the table to estimate the value of r(2003).arrow_forward
- Mobile Phone Sales In 2000, mobile handset sales totaled 414.99million. In 2005, the total was 778.75million. Let M=M(t) denote total mobile handset sales in year t. What was the average rate of change per year in M(t) from 2000 to 2005? Be sure to include proper units with your answer.arrow_forwardEducation The amount of time (in hours per week) a student utilizes a math-tutoring center roughly follows the normal distribution y=0.7979ex5.42/0.5,4x7, where x is the number of hours. (a) Use a graphing utility to graph the function. (b) From the graph in part (a), estimate the average number of hours per week a student uses the tutoring center.arrow_forwardMarginal Tax Rate The following table shows tax due for the given taxable income level for a single taxpayer. Taxable income Tax due 97, 000 21, 913 97, 050 21, 927 97, 100 21, 941 97, 150 21, 955 97, 200 21, 969 a. Show that the data in the table are linear. b. How much additional tax is due on each dollar over 97.000? c. What would you expect to be your tax due if you had a taxable income of 97, 000? of 98, 000? d. Find a linear formula that gives your tax due if your income is A dollars over 97, 000.arrow_forward
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