Mathematics, 07.12.2020 23:20 Hannahgrace1941

During a recent increase in the price of a barrel of oil, a market analyst tried to determine whether to apply a linear model or an exponential model. During the first 4 weeks of the year, U. S. crude oil prices closed at the following values: U. S. Crude Oil Prices
Week Price
1 $39.20
2 $66.64
3 $113.29
4 $192.59

Does the increase in price represent linear or exponential growth? What is the growth factor or rate of change?
Linear, and the constant rate of change is $27.44 per week
Linear, and the growth factor is 1.7 per week
Exponential, and the growth factor is 1.7 per week
Exponential, and the constant rate of change is $27.44 per week

Answers: 2

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During a recent increase in the price of a barrel of oil, a market analyst tried to determine whethe...