Answered: Average Cost of Tuition and Fees at…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.6: Exponential And Logarithmic Equations

Problem 68E

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Question

The formula
T = 21x² + 862x + 15,552
models the average cost of tuition and fees, T, at private U.S.colleges for the school year ending x years after 2000.

a. Use the formula to find the average cost of tuition and fees at private U.S. colleges for the school year ending in 2012.
b. By how much does the formula underestimate or overestimate the actual cost shown by the graph for the school year ending in 2012?
c. Use the formula to project the average cost of tuition and fees at private U.S. colleges for the school year ending in 2022.

Average Cost of Tuition and Fees at
Private Four-Year U.S. Colleges
$33,000
31,701
$31,000-
29,056
$29,000
$27,000
26,273
$25,000-
23,712
$23,000
21,235
$21,000
19,710
$19,000
17,272
$17,000
15,518
$15,000
2000 2002 2004 2006 2008 2010 2012 2014
End of the School Year
Tuition and Fees

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