70. Data Analysis The table shows the median (middle) sales prices (in thousands of dollars) of...

   

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70. Data Analysis The table shows the median (middle) sales prices (in thousands of dollars) of new one-family homes in the United States from 1996 to 2001. (Sources: U.S. Census Bureau and U.S. Department of Housing and Urban Development) vd savig Year Median sales price, y 1996 140 1997 otif 146 1998 D 153 atto di 1999-161 2000 sbom 169 2001 175 A model for the median sales price during this period is given by stil od anim y= -0.1673 + 4.3212 - 29.31+ 196, 6 1 11 () where y represents the sales price and 1 represents the year, with = 6 corresponding to 1996. (a) Use the model and the table feature of a graph- ing utility to find the median sales prices from 1996 to 2001. (b) Use a graphing utility to graph the data from the table above and the model in the same viewing window. (c) Use the model to estimate the median sales prices in 2005 and 2010. Do the values seem reasonable? Explain. (d) Use the zoom and trace features of a graphing utility to determine during which year(s) the median sales price exceeded $160,000. 70. Data Analysis The table shows the median (middle) sales prices (in thousands of dollars) of new one-family homes in the United States from 1996 to 2001. (Sources: U.S. Census Bureau and U.S. Department of Housing and Urban Development) vd savig Year Median sales price, y 1996 140 1997 otif 146 1998 D 153 atto di 1999-161 2000 sbom 169 2001 175 A model for the median sales price during this period is given by stil od anim y= -0.1673 + 4.3212 - 29.31+ 196, 6 1 11 () where y represents the sales price and 1 represents the year, with = 6 corresponding to 1996. (a) Use the model and the table feature of a graph- ing utility to find the median sales prices from 1996 to 2001. (b) Use a graphing utility to graph the data from the table above and the model in the same viewing window. (c) Use the model to estimate the median sales prices in 2005 and 2010. Do the values seem reasonable? Explain. (d) Use the zoom and trace features of a graphing utility to determine during which year(s) the median sales price exceeded $160,000.