The following table shows the approximate average household income in the United States in 1990, 1995, and 2003.

mattgondek4

mattgondek4

Answered question

2020-12-24

The following table shows the approximate average household income in the United States in 1990, 1995, and 2003. (t=0 represents 1990.)
t(Year)0513H(Household Income in $1,000)303543
Which of the following kinds of models would best fit the given data?
Explain your choice of model. ( a, b, c, and m are constants.)
a) Linear: H(t)=mb + b
b) Quadratic: H(t)=at2 + bt + c
c) Exponential: H(t)=Abt

Answer & Explanation

Talisha

Talisha

Skilled2020-12-25Added 93 answers

Step 1
Plot the points on acoordinate system.
Scetching the various models and their characteristics (see below), we find that the linear model would be best for this data set.
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Step 2
not exponential, because the rate of rising does not seem to change.
Not quadratic, because there are no "dips" or "bulges" to account for minimum/maximum values.

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