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Based on the exponential regression model, which is the best estimate of the value of the account 12 years after it was opened? $8,910 $8,980 $13,660 $16,040

Sagot :

The best estimate of the value of the account 12 years after it was opened is; B: $8,980

How to solve exponential regression Model?

The exponential regression model can be written as exponential function in the form; y = abˣ

From the attached table, after 0 years, the account value is $5000. Thus;

5000 = a * b⁰

a = $5000

After two years, we have;

5510 = a * b²

5510 = 5000 * b²

b² = 5510/5000

b = √ 5510/5000

b = 1.05

Thus, after 12 years, the account value is;

y = 5000 * 1.05¹²

y = $8980

Read more about Exponential Regression Model at; https://brainly.com/question/9302810

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Answer:

B.

Explanation:

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