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The
accompanying
table shows the value
of a car over time that was purchased for
16700 dollars, where x is years and y is the
value of the car in dollars. Write an
exponential regression equation for this
set of data, rounding all coefficients to the
nearest hundredth. Using this equation,
determine the value of the car, to the
nearest cent, after 11 years.
Years (x) Value in Dollars (y)
0
1
2
3
4
5
6
16700
14370
12520
10301
9871
7982
6984

Sagot :

Using a calculator, the exponential regression equation for the data is:

y = 16615.21e^(-0.14x)

Using it, the estimate for the value of car after 11 years is $3,561.99.

How to find the equation of exponential regression using a calculator?

To find the equation, we need to insert the points (x,y) in the calculator.

For this problem, the points are given as follows:

(0, 16700), (1, 14370), (2, 12520), (3, 10301), (4, 9871), (5, 7982), (6, 6984).

Inserting these points in the calculator, the equation is:

y = 16615.21e^(-0.14x)

Hence the value of the car after 11 years is given by:

y = 16615.21e^(-0.14 x 11) = $3,561.99.

More can be learned about exponential regression at https://brainly.com/question/9302810

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