The table shows the value of an account x years after the account was opened.A 2-column table with 5 rows. The first column is labeled years after opening account with entries 0, 2, 5, 8, 10. The second column is labeled account value (in dollars) with entries 5,000; 5,510; 6,390; 7,390; 8,150. Based on the exponential regression model, which is the best estimate of the value of the account 12 years after it was opened?$8,910$8,980$13,660$16,040

Accepted Solution

Answer:B. $8,980Step-by-step explanation:You want to put it in a regression calculator and add up all the points. (0,5000) , (2,5510) , (5,6390) , (8,7390) , (10,8150). After putting all this in the calculator you should get a formula looking like y = 4999.785(1.05)^x, once you get this add the 12 to the x value and you have your full equation set up as 4999.785(1.05)^12. After adding this all up you get 8978.895521, just round it up and then your all done.