The table below shows the number, in thousands, of vehicles parked in the central business district of a certain city on a typical Friday as a function of the hour of the day. Hour of the day Vehicles parked (thousands) 9 A.M. 6.2 11 A.M. 7.4 1 P.M. 7.5 3 P.M. 6.6 5 P.M. 3.9 (a) Use regression to find a quadratic model for the data. (Let V be the number of vehicles and t be the time in hours since midnight. Round the regression parameters to three decimal places.) V = (b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.) V = = thousand
The table below shows the number, in thousands, of vehicles parked in the central business district of a certain city on a typical Friday as a function of the hour of the day. Hour of the day Vehicles parked (thousands) 9 A.M. 6.2 11 A.M. 7.4 1 P.M. 7.5 3 P.M. 6.6 5 P.M. 3.9 (a) Use regression to find a quadratic model for the data. (Let V be the number of vehicles and t be the time in hours since midnight. Round the regression parameters to three decimal places.) V = (b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.) V = = thousand
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter4: Estimating Demand
Section: Chapter Questions
Problem 1E
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The table below shows the number, in thousands, of vehicles parked in the central business district of a certain city on a typical Friday as a function of the hour of the day.
| Hour of the day | Vehicles parked (thousands) |
|---|---|
| 9 A.M. | 6.2 |
| 11 A.M. | 7.4 |
| 1 P.M. | 7.5 |
| 3 P.M. | 6.6 |
| 5 P.M. | 3.9 |
(a) Use regression to find a quadratic model for the data. (Let V be the number of vehicles and t be the time in hours since midnight. Round the regression parameters to three decimal places.)
(b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.)
V =
(b) Express using functional notation the number of vehicles parked on a typical Friday at 4 P.M., and then estimate that value. (Round your answer to two decimal places.)
V
=
=
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