Question
Jessica plots the data points relating the amount of money she needs to repay a loan and the number of months she has been making payments.
A 2-column table with 5 rows. The first column is labeled months with entries 6, 12, 18, 24, 30. The second column is labeled amount to repay (dollar sign) with entries 2,700; 2,110; 1,110; 870; 220.
A graph shows months labeled 5 to 60 on the horizontal axis and amount to repay (dollar sign) on the vertical axis. A line shows a downward trend.
She calculates two regression models. Which is true?
The linear model better represents the situation because the amount she owes is decreasing by about the same amount every 6 months.
The linear model better represents the situation because according to the exponential model, the repayment amount will never be 0.
The exponential model better represents the situation because the amount she owes decreases by about the same amount every 6 months.
The exponential model better represents the situation because according to the linear model, the repayment amount will eventually be negative.
A 2-column table with 5 rows. The first column is labeled months with entries 6, 12, 18, 24, 30. The second column is labeled amount to repay (dollar sign) with entries 2,700; 2,110; 1,110; 870; 220.
A graph shows months labeled 5 to 60 on the horizontal axis and amount to repay (dollar sign) on the vertical axis. A line shows a downward trend.
She calculates two regression models. Which is true?
The linear model better represents the situation because the amount she owes is decreasing by about the same amount every 6 months.
The linear model better represents the situation because according to the exponential model, the repayment amount will never be 0.
The exponential model better represents the situation because the amount she owes decreases by about the same amount every 6 months.
The exponential model better represents the situation because according to the linear model, the repayment amount will eventually be negative.
Answers
GPT 3.5
The exponential model better represents the situation because the amount she owes decreases by about the same amount every 6 months.