Crosswords7 mins ago
Gas Prices
4 Answers
This is about average gas prices from 2005-2015
2005 - $2.27
2006 - $2.57
2007 - $2.80
2008 - $3.25
2009 - $2.35
2010 - $2.78
2011 - $3.52
2012 - $3.62
2013 - $3.51
2014 - $3.36
2015 - $2.43
c. What equation models the data? What are the domain and range of
the equation? Do you think your equation is a good fit for the data?
Explain how you determined your answers.
I don't get any of this
2005 - $2.27
2006 - $2.57
2007 - $2.80
2008 - $3.25
2009 - $2.35
2010 - $2.78
2011 - $3.52
2012 - $3.62
2013 - $3.51
2014 - $3.36
2015 - $2.43
c. What equation models the data? What are the domain and range of
the equation? Do you think your equation is a good fit for the data?
Explain how you determined your answers.
I don't get any of this
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.I think it is worth having a chat to your tutor about the issues you are having with this course, as you are finding it necessary to ask for so much help on here.
Given that a few days ago you were doing questions on scatter graphs and lines of best fit I think that is what this question is expecting you to do. However I am not sure that it is a good approach for time series data. I am pretty sure you will find there is not a strong correlation between time and prices here.
Given that a few days ago you were doing questions on scatter graphs and lines of best fit I think that is what this question is expecting you to do. However I am not sure that it is a good approach for time series data. I am pretty sure you will find there is not a strong correlation between time and prices here.
If you put the data into a spreadsheet it will do the lines of best fit for you for linear and quadratic functions and polynomials of higher orders, and give the corresponding R squared correlaton values. You get quite a good fit for polynomials of order 3 or 4. I'm pretty sure based on your other questions that we are just looking at linear functions here