The monthly costs for a small company to do business has been increasing over time due in part to inflation. The table gives the monthly cost y (in S) for the month of January for selected years. The variable t represents the number of years since 2016. Monthly Cost (Jan.) for Selected Years Monthly Costs ($) y Year 15,000 (t = 0 is 2016) 6 12,000 12,000 3 9,000 12,400 2 12,800 6,000 3 13,300 3,000 3 Year (t = 0 represents 2016) a. Use a graphing utility to find a model of the form y = abt. Round a to the nearest whole unit and b to 3 decimal places. b. Write the function from part (a) as an exponential function with base e. c. Use either model to predict the monthly cost for January in the year 2023 if this trend continues. Round to the nearest hundred dollars. Monthly Cost ($)
The monthly costs for a small company to do business has been increasing over time due in part to inflation. The table gives the monthly cost y (in S) for the month of January for selected years. The variable t represents the number of years since 2016. Monthly Cost (Jan.) for Selected Years Monthly Costs ($) y Year 15,000 (t = 0 is 2016) 6 12,000 12,000 3 9,000 12,400 2 12,800 6,000 3 13,300 3,000 3 Year (t = 0 represents 2016) a. Use a graphing utility to find a model of the form y = abt. Round a to the nearest whole unit and b to 3 decimal places. b. Write the function from part (a) as an exponential function with base e. c. Use either model to predict the monthly cost for January in the year 2023 if this trend continues. Round to the nearest hundred dollars. Monthly Cost ($)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter8: Polynomials
Section8.1: Adding And Subtracting Polynomials
Problem 44PPS
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Transcribed Image Text:The monthly costs for a small company to do business has been increasing over time due in part to inflation. The table
gives the monthly cost y (in S) for the month of January for selected years. The variable t represents the number of years
since 2016.
Monthly Cost (Jan.) for Selected Years
Monthly
Costs ($) y
Year
15,000
(t = 0 is 2016)
6 12,000
12,000
3 9,000
12,400
2
12,800
6,000
3
13,300
3,000
3
Year (t = 0 represents 2016)
a. Use a graphing utility to find a model of the form y = abt. Round a to the nearest whole unit and b to 3 decimal places.
b. Write the function from part (a) as an exponential function with base e.
c. Use either model to predict the monthly cost for January in the year 2023 if this trend continues. Round to the nearest
hundred dollars.
Monthly Cost ($)
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