The Table Shows the Number of Dollars Spent in Country

question 57

Multiple Choice

The table shows the number of dollars spent in Country X (in millions) on environmental protection programs during the years 2000(x=1) through 2010(x=11) . Find the cubic model that is the best fit for this data. Round coefficients to three decimal places.
$\begin{array} { c c } \hline \text { Year } & \text { Spending (millions of dollars) } \\\hline 2000 & 5.5 \\2001 & 5.8 \\2002 & 6.1 \\2003 & 6.9 \\2004 & 7.1 \\2005 & 7.0 \\2006 & 6.5 \\2007 & 7.3 \\2008 & 7.6 \\2009 & 7.8 \\2010 & 7.9\end{array}$

• A) \(f ( x ) = 0.007 x ^ { 3 } - 0.105 x ^ { 2 } + 0.805 x + 4.397\)
• B) \(f ( x ) = - 0.010 x ^ { 2 } + 0.446 x + 5.759\)
• C) \(f ( x ) = - 0.010 x ^ { 2 } + 0.346 x + 5.253\)
• D) \(f ( x ) = 0.005 x ^ { 3 } - 0.102 x ^ { 2 } + 0.805 x + 4.697\)

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Definitions:

Demand Schedule

A table or graph showing the quantity of a good or service that consumers are willing and able to purchase at various prices.

Economic Profit

Profit calculated by subtracting both explicit and implicit costs from total revenues, showing the actual financial gain or loss.

Cost Data

Information related to the expenses incurred in the production of goods or services, including raw material, labor, and overhead costs.

Monopolistic Competition

A market structure characterized by many firms selling slightly differentiated products, allowing for some degree of market power and price control.