Use a Graphing Calculator to Plot the Data and Find

question 240

Essay

Use a graphing calculator to plot the data and find the quadratic function of best fit.
-The following table shows the median number of hours of leisure time that Americans had each week in
various years. $\begin{array}{l|lllll}\text { Year } & 1973 & 1980 & 1987 & 1993 & 1997 \\\hline \text { Median \# of Leisure hrs per Week } & 26.2 & 19.2 & 16.6 & 18.8 & 19.5\end{array}$
Use x = 0 to represent the year 1973. Using a graphing utility, determine the quadratic regression equation for
the data given. What year corresponds to the time when Americans had the least time to spend on leisure?

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Definitions:

Marginal Utility

The supplementary satisfaction or advantage a consumer experiences by using one more unit of a good or service.

Diminishing

Refers to the principle where additional units of input result in progressively smaller increases in output, often applied in the context of diminishing marginal returns in production.

Dozen Oysters

A quantity of oysters amounting to 12 units, often used in the context of serving or purchasing seafood.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of goods or services.