The following chart shows the value of trade between two countries for the period 1994-2004 ( represents 1994). Which of the following models best approximates the data given? (Try to answer this without actually computing values.)

Question

The following chart shows the value of trade between two countries for the period 1994-2004 (  represents 1994).  Which of the following models best approximates the data given? (Try to answer this without actually computing values.)

Quizplus · Accepted Answer

The given data shows an increase in trade between the two countries over the 11-year period. Therefore, a linear or decreasing model would not be appropriate. Options A and B represent hyperbolic and power models, respectively, which may not fit the data well. Option E represents an exponential model, which could work for the initial years but the steep increase in trade towards the end of the period would not be accurately modeled. Option D represents a logistic model, which could work for the initial growth phase of trade but may not accurately capture the increase in trade in later years. Option C represents a polynomial model, which can fit a wide range of data and is capable of capturing the increase in trade over the 11-year period. Therefore, C is the best choice.

The Following Chart Shows the Value of Trade Between Two