The population of a town can be modeled by the regression equation y = 23,000(1.05x). Which is the best prediction for the population in year 30?A.99,405B.58,120C.70,645D.55,352
Question
The population of a town can be modeled by the regression equation y = 23,000(1.05x). Which is the best prediction for the population in year 30?A.99,405B.58,120C.70,645D.55,352
Solution
To find the best prediction for the population in year 30, we need to substitute x = 30 into the regression equation y = 23,000(1.05^x).
Step 1: Substitute x = 30 into the equation y = 23,000(1.05^30)
Step 2: Calculate the value of 1.05^30 using a calculator.
Step 3: Multiply the result from step 2 by 23,000 to get the predicted population.
The answer that you get from these calculations will be the best prediction for the population in year 30. Compare this answer with the options given to find the best match.
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