Question
For this exercise, round all regression parameters to three decimal places. The following table shows the number, in millions, of cell phone subscribers C in
For this exercise, round all regression parameters to three decimal places. The following table shows the number, in millions, of cell phone subscribersCin the United States at the end of the given yeart.
Year | Subscribers (millions) |
---|---|
2010 | 296.3 |
2011 | 316 |
2012 | 326.5 |
2013 | 335.6 |
2014 | 355.4 |
(a) Plot the data points. (Lettbe years since 2010 andCbe the number of cell phone subscribers, in millions.)
(b) Use exponential regression to construct an exponential model for the subscriber data. (Lettbe years since 2010 andCbe the number of cell phone subscribers, in millions.)
C= 298.9141.043t
C= 301.2431.035t
C= 294.4041.031t
C= 304.2891.041t
C= 288.7121.043t
(c) Add the graph of the exponential model to the plot in part (a).
(d) What was the yearly percentage growth rate from the end of 2010 through the end of 2014 for cell phone subscribership? (Use the model found in part (b). Round your answer to one decimal place.) % (e) In 2014 an executive had a plan that could make money for the company, provided that there would be at least 380 million cell phone subscribers by the end of 2016. Solely on the basis of an exponential model for the data in the table, would it be reasonable for the executive to implement the plan? (Use the model found in part (b).) Yes, the model predicts at least 380 million.No, the model predicts less than 380 million.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started