The monthly rent for a one-bedroom apartment at North Shore Towers for 6 consecutive years is shown
Question:
The monthly rent for a one-bedroom apartment at North Shore Towers for 6 consecutive years is shown in the table.
a. Represent the years using the numbers 5, 6, 7, 8, 9, 10 to 11, 12, 13, 14, 15, 16. Draw a scatter plot for the data.
b. Find the exponential regression equation that models the rent increases. Round to the nearest thousandth.
c. Predict the rent in the year 2027.
Transcribed Image Text:
Year 2011 2012 2013 2014 2015 2016 Monthly Rent ($) 2,500 2,590 2,675 2,750 2,850 2,925
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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