The Price of Electric Guitars Has Varied Considerably in Recent

question 182

Multiple Choice

The price of electric guitars has varied considerably in recent years. The data in the table relates the price P, in dollars, to time t, in years. Use a cubic function fitted to the data to predict the price of an electric guitar in year 10. $$\begin{array} { c | c } \text { Year, } \mathrm { t } & \begin{array} { c } \text { Average price, } \mathrm { p } , \\\text { of an electric guitar }\end{array} \\\hline 1 & \$ 618.20 \\\hline 2 & 783.20 \\\hline 3 & 674.30 \\\hline 4 & 721.60 \\\hline 5 & 825.00 \\\hline 6 & 891.00 \\\hline 7 & 852.50 \\\hline 8 & 819.50 \\\hline 9 & 783.20\end{array}$$

• A) $893.53
• B) $827.42
• C) $443.52
• D) $670.48

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Definitions:

Prevented

Stopped from happening or existing through direct action or intervention.

Evidence-based Management

Making managerial decisions guided by the integration of the best available evidence from multiple sources to increase the likelihood of achieving desired outcomes.

Multiple Sources

Relying on or referring to various origins or points of information to ensure comprehensive understanding or analysis.

Explicit

Clearly defined or stated without any ambiguity or vagueness.