The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000–2024. Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.5: Graphs Of Functions
Problem 57E
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The following graph shows a rough approximation of historical and projected median home prices for a country for the period 2000–2024.

Here, t is time in years since the start of 2000, and C(t) is the median home price in thousands of dollars. The locations of stationary points and points of inflection are indicated on the graph. Analyze the graph's important features, and interpret each feature in terms of the median home price.
The median home price was $_________  thousand at the start of 2000 (t = 0).
 
The median home price has two low points; first in the year_______  and again in the year___________  when it stood at $________  thousand;
 
The median home price peaked at the start of the year__________  at $_________  thousand.
 
The median home price was decreasing most rapidly at the start of the year__________  when it was $___________ thousand, and increasing most rapidly at the start of the year__________  when it was $_________  thousand.
 
Assuming that the trend shown in the graph continued indefinitely, the median home price would approach a value of $______  thousand in the long term.
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