Comparing Models The amounts y (in billions of dollars)

Chapter 3, Problem 3.6.35

(choose chapter or problem)

Comparing Models The amounts y (in billions of dollars) donated to charity (by individuals, foundations, corporations, and charitable bequests) in the United States from 1995 to 2003 are shown in the table, where t represents the year, with corresponding to 1995. (Source: AAFRC Trust for Philanthropy) (a) Use the regression feature of a graphing utility to find a linear model, a logarithmic model, a quadratic model, an exponential model, and a power model for the data. (b) Use the graphing utility to graph each model with the original data. Use the graphs to choose the model that you think best fits the data. (c) For each model, find the sum of the squared differences. Use the results to choose the model that best fits the data. (d) For each model, find the -value determined by the graphing utility. Use the results to choose the model that best fits the data. (e) Compare your results from parts (b), (c), and (d).