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The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. C(f) C(f) 280 :280
The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000-2024. C(f) C(f) 280 :280 240 :240 200 : 200 160 The tC-coordinate plane is given. The curve starts at the closed 120 point (0, 120), goes up and right becoming less steep, changes directions at the point (6, 180), goes down and right becoming 80 more steep, passes through the point (9, 140), goes down and right 40 becoming less steep, changes directions at the point (12, 120), goes up and right becoming more steep, passes through the point 0 (15, 180), goes up and right becoming less steep, and exits the 0 3 6 9 12 15 19 21 24 window just below C = 240. 24 Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature in terms of the median home price. The median home price was $ * thousand at the start of 2000 (t = 0). The median home price has two low points; first in the year and again in the year when it stood at $ thousand; the median home price peaked at the start of the year at $ thousand. The median home price was decreasing most rapidly at the start of the year when it was $ thousand, and increasing most rapidly at the start of the year when it was $ thousand. Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of $ thousand in the long term
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