The table shows the average prices (in cents per kilowatt
Chapter , Problem 8.5.92(choose chapter or problem)
The table shows the average prices (in cents per kilowatt hour) of residential electricity in the United States from 2003 through 2010. (Source: U.S. Energy Information Administration) (a) Use the regression feature of a graphing utility to find a cubic model for the data. Let represent the year, with corresponding to 2003. (b) Use the graphing utility to plot the data and the model in the same viewing window. (c) You want to adjust the model so that corresponds to 2008 rather than 2003. To do this, you shift the graph of five units to the left to obtain Use binomial coefficients to write in standard form. (d) Use the graphing utility to graph in the same viewing window as (e) Use both models to predict the average price in 2011. Do you obtain the same answer? (f) Do your answers to part (e) seem reasonable? Explain. (g) What factors do you think may have contributed to the change in the average price?
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