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Question 2 4 pts Note: This question outlines the steps involved in Guessing-and-Checking with exponential models. Suppose that the same exponential model .y = 363000(1.064)*
Question 2 4 pts Note: This question outlines the steps involved in "Guessing-and-Checking" with exponential models. Suppose that the same exponential model .y = 363000(1.064)* was used to predict the value of the Ohio home as in the previous problem. About how many years will it take for the home value to triple in value when compared to its value in 2024? Step 1- Stating desired output First you should state what you''re looking for as an output and why: The home value in 2024 equals = We want our function to output because that would be triple the home value in 2024. Step 2 - Finding window for exact answer Note that you DO NOT need to write down all values you try. You only need these two: T = gives the closest value less than the output we want. It gives a y-value of (round to the nearest cent) T = gives the closest value less than the output we want. It gives a y-value of (round to the nearest cent) Step 3 - Choosing a correct estimate State which value you will use are your estimate and why. Usually, this will be choosing whichever is the closer output to the desired output, so this step will prompt you to give that explanation. = The lower @ -value gives you an estimate that differs from the desired output by (enter a postive value, rounded to the nearest cent) = The upper T -value gives you an estimate that differs from the desired output by (enter a positive value, rounded to the nearest cent) Since = gives the closer output, use that as the estimate. Step 4 - Interpreting the answer in the context Remember to write a clear sentence that presents your answer in the language of the problem. It takes years for the value of the home to triple when compared to its 2024 value. This means the home value will triple by the year
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