?7 BSC Finding the Best Model. ?Construct a scatterplot and identify the mathematical model that best fits the given data. Assume that the model is to be used only for the scope of the given data, and consider only linear, quadratic, logarithmic, exponential, and power models. CD Value ?The table lists the value y (in dollars) of $100 deposited in a certificate of deposit at Bank of New York.
Solution 7 BSC Step 1 : We have variable y which is the deposit of $100 in bank of new york and the variable x in the form of years From the Minitab > Enter the dataset in Minitab stat regression fitted line plot. >Choose quadratic in fitted line plot ok From the plot we can see that the points are plotted in a straight line, it is positively correlated.