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Concept explainers
Here are two mathematical models for the data shown by the graph. In each formula, C represents the cost x years after 1985 of what cost $10,000 in 1982.
a. Use the graph to estimate the cost in 1995, to the nearest thousand dollars, of what cost $10,000 in 1982.
b. Use model 1 to determine the cost in 1995. How well does this describe your estimate from part (a)?
c. Use model 2 to determine the cost in 1995. How well does this describe your estimate from part (a)?
d. Use model 1 to determine in which year the cost will be $28,320 for what cost $10,000 in 1982.
The line graph shows the cost of inflation. What cost $10,000 in 1982 would cost the amount shown by the graph in subsequent years.
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Chapter 6 Solutions
Thinking Mathematically plus NEW MyLab Math with Pearson eText -- Access Card Package (6th Edition)
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