The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. C) 350 300 250 200 150 100 50 3 12 15 19 21 24 0 Here, tis time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature in terms of the median home price. The median home price was s 90 x thousand at the start of 2000 (t 0). v when it stood at $ 90 x thousand; the median home price peaked at the start of the year 2024 X at The median home price has two low points; first in the year 2000 24180 and again in the year 2012 X thousand. X when it was s 135 x thousand, and increasing most rapidly at the start of the year 2012 x when it was s0 x thousand The median home price was decreasing most rapidly at the start of the year 2006 X thousand in the long term. Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of s 90

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.2: Representing Data
Problem 14PPS
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Fill in the blanks for the following graph that shows a rough approximation of historical and projected median home price is for a country for the period 2000-2024.
The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024.
350
300
250
200
150
100
50
12
15
19
21
24 @
Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature in terms of
the median home price.
The median home price was $ 90
x thousand at the start of 2000 (t = 0).
The median home price has two low points; first in the year 2000
$180
V and again in the year 2012
v when it stood at $ 90
x thousand; the median home price peaked at the start of the year 2024
x at
x thousand.
The median home price was decreasing most rapidly at the start of the year 2006
x when it was $ 135
x thousand, and increasing most rapidly at the start of the year 2012
x when it was s 90
X thousand.
x thousand in the long term.
Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of $ 90
Transcribed Image Text:The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. 350 300 250 200 150 100 50 12 15 19 21 24 @ Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature in terms of the median home price. The median home price was $ 90 x thousand at the start of 2000 (t = 0). The median home price has two low points; first in the year 2000 $180 V and again in the year 2012 v when it stood at $ 90 x thousand; the median home price peaked at the start of the year 2024 x at x thousand. The median home price was decreasing most rapidly at the start of the year 2006 x when it was $ 135 x thousand, and increasing most rapidly at the start of the year 2012 x when it was s 90 X thousand. x thousand in the long term. Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of $ 90
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