Modelling Exponential Data
We will work through the following example together in class:
I have invested $1,000,000 dollars for 90 years as shown in the data below. You will analyze the data in three different manners.
|amount (in millions $)||1.000||2.16||4.66||10.06||21.73||46.902||101.53||218.61||471.96||1018.92|
(a) Create a hand drawn scatter plot of the financial data.
(b) Algebraically, determine an equation for the "curve of best fit" (HINT: ratios)
(c) Graph the data using technology (WINSTAT or GC) and determine the regression equation of best fit. Determine the coefficient of determination/correlation. Print the graph
(d) Graph the data on semi-log paper. Determine the equation of the line of best fit. Rearrange this equation to an exponential equation. Show work. You can get more semi-log paper by following this link
(e) What is the annual rate of growth of this investment?
Go to the textbook to page 153 and complete Questions 4,7,8, answering all questions. Use at least two analysis methods for each question, such that you use each method a minimum of two times.