Use Mathematical Models
-The Winning Times (In Seconds) in a Speed-Skating

question 215

Multiple Choice

Use Mathematical Models
-The winning times (in seconds) in a speed-skating event for men can be represented by the formula $\mathrm { T } = 46.18 - 0.095 \mathrm { x }$ , where $\mathrm { x }$ represents the year, with $\mathrm { x } = 0$ corresponding to 1920 . (For example in $1992 , \mathrm { x }$ would be $1992 - 1920 = 72$ .) According to the formula, what was the winning time in 1998 ? Round to the nearest hundredth.

• A) \(38.77 \mathrm { sec }\)
• B) \(3594.63 \mathrm { sec }\)
• C) \(39.72 \mathrm { sec }\)
• D) \(40.67 \mathrm { sec }\)

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Definitions:

Monetary Policy

Actions undertaken by a country's central bank to control the money supply and interest rates to achieve macroeconomic objectives like controlling inflation, consumption, growth, and liquidity.

Discount Rate

The rate of interest that central banks impose on credits extended to commercial banks and other financial entities.

Reserve Requirements

Regulations set by central banks determining the minimum amount of reserves that must be held by a commercial bank, a repeat of the Fed's specific requirement but applicable globally.

Depository Institutions Deregulation

The legislative measures taken to reduce regulation over banks and other depository institutions to enhance their ability to compete and innovate.