U.S. Gross Domestic Product The table gives the U.S. gross domestic product (in billions of dollars) for selected years from 1940 through 2005.
a. Find the best-fitting quadratic model for the data, with x equal to number of years after 1900.
b. Find the power model that is the best fit for the data, with x equal to number of years after 1900.
c. Compare the two models by graphing each model on the same axes with the data points. Which model appears to be the better fit?
Year | Domestic Gross Product | Year | Domestic Gross Product |
1940 | 837 | 1985 | 4207 |
1945 | 1559 | 1990 | 4853 |
1950 | 1328 | 1995 | 5439 |
1955 | 1700 | 2000 | 9817 |
1960 | 1934 | 2001 | 10,128 |
1965 | 2373 | 2002 | 10,470 |
1970 | 2847 | 2003 | 10,976 |
1975 | 3173 | 2004 | 11,713 |
1980 | 3746 | 2005 | 12,456 |
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