Concept explainers
21. The line graph showy ‘he cost of inflation. What cost$10,000 in 1984 would cost the amount shown by thegraph in subsequent years.
Here are two mathematical models for tie data shown by the graph. In each formula. C represents the cost x yearsafter 1990 or what cost $10,000 in 1984.
Model 1
Model 2
a. Use the graph to estimate the cost in 2010, to the nearestthousand dollars, of what cost $10,000 in 1984 $22,000
b. Use model 1 to determine the cost in 2010 How welldoes this describe your estimate from part (a)? $21,809: reasonably well
c. Use model 2 to determine the cost in 2010. How welldoes this describe your estimate from pan (a)? $21,726: reasonably well
d. Use model 1 to determine in which year the cost will be$26,229 for what cost$10,000 in 1984 2020
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