The growth of a $40 000 investment is shown in the table.
Time (years) Value ($)
0 40 000
1 42 600
2 45 369
3 48 318
4 51 459
5 54 803
Use the exponential regression function on your calculator to get the function. Round a to the nearest dollar and b to the nearest thousandth
I need help!! please!!!
No problem! I can walk you through the steps to use exponential regression on a calculator to find the function.
To begin, make sure you have a scientific calculator that supports regression analysis. Most graphing calculators have this feature.
Step 1: Clear any previous data points on your calculator by pressing the "Clear" or "Reset" button.
Step 2: Enter the given data points into two separate lists on your calculator. For example, enter the years (0, 1, 2, ...) into List1, and the corresponding values ($40,000, $42,600, ...) into List2.
Step 3: Access the regression analysis function on your calculator. This might be labeled as "Stat" or "Statistics." Consult your calculator's user manual if you're unsure.
Step 4: Select exponential regression from the list of regression options. Again, consult your calculator's manual if you're unsure which option to choose.
Step 5: Once you have selected exponential regression, your calculator will calculate the coefficients "a" and "b" for the exponential growth equation of the form: y = a * e^(b * x) (where "y" represents the value and "x" represents the time).
Step 6: Round the coefficients "a" and "b" to the specified decimal places. In this case, round "a" to the nearest dollar and "b" to the nearest thousandth.
Step 7: Write down the exponential growth equation in the form y = a * e^(b * x), using the rounded coefficients from Step 6.
That's it! You have now obtained the exponential regression function based on the given data points.