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

Answer:

B

Step-by-step explanation:

just took the test

Answer 2

Answer:

Correct choice is B

Step-by-step explanation:

The exponential regression model can be written as exponential function

$y=a\cdot b^x.$

Then

$5,000=a\cdot b^0=a,\\ \\5,510=a\cdot b^2\Rightarrow 5,510=5,000\cdot b^2,\\ \\b^2=\dfrac{5,510}{5,000}=\dfrac{551}{500}\Rightarrow b\approx 1.05.$

Thus,

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

When $x=12,$ you get

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