paper2(cont.) - Note that in the last data set, the ROC is...

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The number of new business started in a certain Gulf city increased by 17 each year every year since 1998, when it was 41. Determine an equation to model this growth, graph the function, and use it to determine when the number of new business start-ups will reach 200 in a year. For each set of data below, find a function to model the data. Year since 1990 0 5 10 15 20 Population of city #1 (in millions) 2.1 1.8 1.5 1.2 0.9 Price for a barrel of oil 20 30 40 50 60 Price of a gallon of gasoline $1.48 $1.75 $2.02 $2.29 $2.56 Year since 1990 0 5 8 10 15 Population of city #2 (in millions) 1.1 1.36 1.50 1.59 1.87
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Unformatted text preview: Note that in the last data set, the ROC is not exactly constant. However, it is nearly constant. Moreover, if we graph the data (you should do this accurately), the data behaves like linear data. Consequently, we still use a linear function to model the data. However, what will use for the slope? (Hint: if I want one number to represent a group of numbers, how can I do this? Think about your grade!) Determine when the population of city #1 will be equal to the population of city #2 and verify your solution graphically....
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This note was uploaded on 12/13/2010 for the course BUSINESS M MATH101 taught by Professor Dr.markburtch during the Spring '10 term at American Dubai.

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