The accompanying table shows the value of a car over time that was purchased for 16700 dollars where x is years and y is the value of the car in dollars. Write an exponential regression equation for this set of datarounding all coefficients to the nearest hundredthUsing this equation determine the value of the car, to the nearest cent, after 11 years Years () Value in Dollars (y) 016700 1 14370 212520 3 10301 4 9871 7982 6 6984
The exponential regression equation for this set of data is:
y = 16876.68 * (0.900127^x)
Using this equation, the value of the car after 11 years would be approximately $5997.41