Math Problem Statement
The following table shows a tech product's sales during the financial years 2005–2009. (t is time in years since 2005.) Year t 0 1 2 3 4 Sales S (millions) 22.8 39.4 51.7 54.8 54.1 (a) Find a quadratic regression model for these data. (Round coefficients to three significant digits.) S(t) =
Solution
To find the quadratic regression model for the data, we assume the model has the form:
We can use the given data to determine the coefficients , , and by performing quadratic regression. The data provided is:
I will calculate the quadratic regression model for this dataset.
Let's compute the coefficients.The quadratic regression model for the given data is:
Would you like more details on how this was computed or any further clarification?
Here are five related questions:
- How does quadratic regression compare to linear regression in modeling trends?
- Can this model be used to predict future sales beyond 2009?
- How can we assess the accuracy of the quadratic model?
- What is the significance of each coefficient in the quadratic equation?
- How would the model change if we had sales data for more years?
Tip: Quadratic models are useful when data shows a non-linear trend, such as an initial increase followed by leveling off or a decline.
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Math Problem Analysis
Mathematical Concepts
Algebra
Quadratic Regression
Statistics
Formulas
Quadratic regression model S(t) = at^2 + bt + c
Theorems
Least Squares Method
Suitable Grade Level
Grades 10-12
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