Question

Exponential Regressions (Level 1)

?
The accompanying table shows the value of a car over time that was purchased for
13800 dollars, where x is years and y is the value of the car in dollars. Write an
exponential regression equation for this set of data, rounding all coefficients to the
nearest thousandth. Using this equation, determine the value of the car, to the
nearest cent, after 10 years.
Years (x) Value in Dollars (y)
X 0 1 2 3 4 5 6
Y 13800 12026 10562 8063 6926 6112 4783

Answer 1

Plot the points on the graphing calculator. Then generate an exponential regression model.

y = 14,220.322(.838^x)

After 10 years:

y = 14,220.322(.838^10) = 2,428.56

After 10 years, the value of the car is $2,428.56.