The line graph shows the cost of inflation. What cost $10,000 in 1984 would cost the amount shown by the graph in subsequent years.
The Cost of Inflation
Source: U.S. Bureau of Labor Statistics
Here are two mathematical models for the data shown by the graph. In each formula, C represents the cost x years after 1990 of what cost $10,000 in 1984.
Use these models to solve Exercises 69 β 74.
Which model is a better description for the cost in 2013 of what cost $10,000 in 1984?
Does this model underestimate or overestimate the cost shown by the graph? By how much?
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Intermediate Algebra For College Students, Books A La Carte Edition (7th Edition)
- Sales Barnes & Noble had annual sales of $6.8 billion in 2013 and $6.1 billion in 2015. Use the Midpoint Formula to estimate the sales in 2014. Assume that the annual sales followed a linear pattern.arrow_forwardMathematical Models In Exercises 9 and 10, (a) plot the actual data and the model of the same graph and (b) describe how closely the model represents the data. If the model does not closely represent the data, suggest another type of model that may be a better fit. The ordered pairs below give the revenues y (in billions of dollars) for Activision Blizzard, Inc., from 2008 through 2014. 2008,3.032012,4.862009,4.282013,4.582010,4.452014,4.412011,4.76 A model for the data is y=0.184t+2.32,8t14, where t represents the year, with t=8 corresponding to 2008.arrow_forwardGraph on the number line: (a) x2 (b) x3 (c) x1arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Intermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningTrigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage LearningCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning