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Quadratic Applications
Based on data obtained from Financial Trend Forecaster (Inflationdata.com), average gas prices from 1999-2005 can be modeled using the equation, C = .009t2 - .232t + 2.834, where C is the cost per gallon of gas (dollars) and t is the time since 1999.
Draw a sketch of the graph with appropriate labels.
What was the lowest gas price in that era?
In what year did the lowest gas price occur?
Predict when gas will cost $4.00 per gallon.
Do you think this curve would be a good representation of gas prices prior to 1999? Why or why not?
2. Movie ticket prices from 1989 through 2004 can be modeled using the equation,
P = .012t2 - .030t + 4.101, where P is the price of the tickets and t is the time since 1989. Answer the following questions based on the equation obtained by the data from the National Association of Theater Owners.
Draw a sketch of the graph with appropriate labels.
When are the tickets prices predicted to be $10?
In what year were the lowest ticket prices?
How much did a movie cost that year?
3. Data obtained from HYPERLINK "http://forecasts.org/cdollar.htm" http://forecasts.org/cdollar.htm, shows that the exchange rate for Canadian to American money from February 2004 through November 2004 can be modeled by the equation:
r = -.004t2 + .027t + 1.324. r represents the exchange rate and t represents the number of months since February 2004.
Draw a sketch of the graph with appropriate labels.
When is the exchange rate predicted to be even?
When did the highest rate occur?
Do you think this curve is a good predictor of the exchange rate? Why or why not?
4. According to the data provided by the American Obesity Association, the Obesity Prevalence Trend (1971 2000) for U.S. Adolescents (12-19) can be modeled by the equation P = 3.05t2 2.45t + 11.6 where P is the Prevalence (%) and t represents the number of 5 year periods since 1971.
a. Draw a sketch of the graph with appropriate labels.
b. During what time period is the prevalence of obesity among teenagers predicted to reach 50%?
c. What was the lowest rate of obesity?
d. When is the prevalence predicted to reach 100%?
e. Do you think this could be an accurate prediction? Why or why not?
5. Average cottage cheese consumption (in pounds) from 1950 to 2000 can be modeled by the equation: C = -.196x2 + .628x + 4.064 where x is the number of decades since 1950 and C is the consumption. Answer the following based on the data obtained from HYPERLINK "http://www.usda.gov/factbook/chapter2.pdf" http://www.usda.gov/factbook/chapter2.pdf.
Draw a sketch of the graph with appropriate labels.
During which decade was the most cottage cheese consumed?
How much cottage cheese is predicted to be eaten between 2010 and 2019?
Is this curve a good predictor of cottage cheese consumption for the short term? How about long term? Why or why not?
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