In Exercises 7172, we continue with our historical
Chapter 2, Problem 2.1.175(choose chapter or problem)
In Exercises 7172, we continue with our historical comparisons using todays dollars. Average Nightly Hotel Room Rate 2009 $98 1903 $50 Unadjusted: $2 Using todays dollars, the data in the bar graph can be described by the mathematical model H 0.5n 50, where H is the average nightly hotel room rate n years after 1903. a. Does the formula underestimate or overestimate the average nightly hotel room rate in 2009? By how much? b. If trends shown by the formula continue, when will the average nightly hotel room rate cost 110?
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