Question

The table shows the value of an account x years after the account was opened. Based on the exponential regression model, which is the best estimate of the value of the account 12 years after it was opened? $8,910 $8,980 $13,660 $16,040

Answer 1

B

Explanation:

just took the test

Answer 2

Correct choice is B

Explanation:

The exponential regression model can be written as exponential function

`y=a\cdot b^x.`

Then

`5,000=a\cdot b^0=a,\\ \\5,510=a\cdot b^2\Rightarrow 5,510=5,000\cdot b^2,\\ \\b^2=(5,510)/(5,000)=(551)/(500)\Rightarrow b\approx 1.05.`

Thus,

`y=5,000\cdot (1.05)^x.`

When
`x=12,` you get

`y(12)=5,000\cdot (1.05)^(12)\approx \$8,980.`