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Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

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Chapter
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BuyFindarrow_forward

Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

The following commentary and graph appeared in politicalcalculations.blogspot.com on August 30, 2005:34

One of the neater biogs I’ve recently encountered is The Real Returns, which offers a wealth of investing, market and economic data. Earlier this month, The Real Returns posted data related to the recent history of U.S. median house prices over the period from 1963 to 2004. The original source of the housing data is the U.S. Census Bureau.

Well, that kind of data deserves some curve-fitting and a calculator to estimate what the future U.S. median house price might be, so Political Calculations has extracted the data from 1973 onward to create the following chart:

images

Comment on the article and graph. [HINT: See Exercise 92.]

To determine

The proper explanation for the article which says The Real Returns posted data related to the recent history U.S. median house prices over the period from 1963 to 2004.

Explanation

Given Information:

The Real Returns posted data related to the recent history U.S. median house prices over the period from 1963 to 2004. This type of data requires some curve fitting and calculators to estimate what the future U.S. median house price might be.

The data form 1973 onward is shown by the following chart,

Consider the provided chart is,

The Real Returns posted data related to the recent history U...

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