?The data in Exercises 21–24 are from the Bureau of Labor Statistics.The following table
Chapter 2, Problem 23(choose chapter or problem)
The data in Exercises 21–24 are from the Bureau of Labor Statistics.
The following table gives the number of people (in millions) over the age of 16 who were unemployed for more than 15 weeks during September of each of the years listed.
On the basis of these data, a statistician suggests that the following formula can be used to approximate the number N of people unemployed given in the table:
\(N=0.02 x^{3}-0.36 x^{2}+1.40 x+1.65\)
where x = 0 corresponds to 1990, x = 1 corresponds to 1991, and so on.
(a) Use this formula to compute N for each of the years 1990 through 1995.
(b) Compare the values collected by the Department of Labor with the values obtained from the formula and comment about the accuracy of the formula.
Equation Transcription:
Text Transcription:
N=0.02x^3 - 0.36x^2 + 1.40x + 1.65
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