A new company has tracked employee growth throughout its first seven years in operation. The company performed a logistic regression and 454.15 modeled the number of employees, N, working at the company t years after the company started with the function N(t) 1+ 27.61e¬0.55ť and with 2 = 0.97. 400 Would it be appropriate for the company to use this model to make a prediction about the number of employees that will be working at the company 14 years after it started?
A new company has tracked employee growth throughout its first seven years in operation. The company performed a logistic regression and 454.15 modeled the number of employees, N, working at the company t years after the company started with the function N(t) 1+ 27.61e¬0.55ť and with 2 = 0.97. 400 Would it be appropriate for the company to use this model to make a prediction about the number of employees that will be working at the company 14 years after it started?
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.6: Higher-degree Polynomials And Rational Functions
Problem 1TU: The following fictitious table shows kryptonite price, in dollar per gram, t years after 2006. t=...
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A. No, it would not be appropriate because this data should be modeled by a quadratic function
B. Yes, it would be appropriate because r2 is close to 1
C. Yes, it would be appropriate because employee growth should be modeled by a logistic function
D. No, it would not be appropriate because t=14 is too far outside the range of known values, this would be extreme extrapolation
Transcribed Image Text:A new company has tracked employee growth throughout its first seven years in operation. The company performed a logistic regression and
454.15
modeled the number of employees, N, working at the company tyears after the company started with the function N(t)
and
1+ 27.61e-0.55t
with 2 = 0.97.
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Would it be appropriate for the company to use this model to make a prediction about the number of employees that will be working at the
company 14 years after it started?
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