Assignment:
Construct a scatterplot and identify the mathematical model that best fits the given data. Assume that the model is to be used only for the scope of the given data, and consider only linear, quadratic, logarithmic, exponential, and power models.
Subway Fare Use the year subway fare data in Table below from the Chapter Problem. Let x represent the year, with 1960 coded as 1, 1973 coded as 14, and so on. Let y represent the subway fare. Does the best model appear to be a good model? Why or why not? Using the best model, find the projected subway fare in the year 2020.
Table below Cost of a Slice of Pizza, Subway Fare, and the CPI
|
Year
|
1960
|
1973
|
1986
|
1995
|
2002
|
2003
|
|
Cost of Pizza
|
0.15
|
0.35
|
1
|
1.25
|
1.75
|
2
|
|
Subway Fare
|
0.15
|
0.35
|
1
|
1.35
|
1.5
|
2
|
|
CPI
|
30.2
|
48.3
|
112.3
|
162.2
|
191.9
|
197.8
|