The number of US business bankruptcies for various years are listed below. Year Bankruptcies (
Question: The number of US business bankruptcies for various years are listed below.
Year | Bankruptcies (thousands) |
1998 | 53 |
1999 | 41 |
2000 | 38 |
2001 | 36 |
2002 | 40 |
a) What about this data suggests that a quadratic model is likely to be the more
appropriate than a linear or exponential model?
b) Use regression to find a reasonable quadratic model, \(f\left( t \right)\), that represents the bankruptcies (in thousands) for the year that is t years since 1990. (Round values to three decimal places.)
c) Find \(f\left( 16 \right)\). What does your result mean in terms of the situation?
d) Find the vertex of f by hand. What does it mean in terms of the situation? Be specific.
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Type of Deliverable: Word Document
Type of Deliverable: Word Document