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The following graph shows the highest average annual value of contract

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Sajjad1994
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The following graph shows the highest average annual value of contract [#permalink] New post   16 Oct 2023, 00:03
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The following graph shows the highest average annual value of contracts for players in Major League Baseball in the years from 1980 to 2001. The solid curve represents a regression equation that is exponential. The dotted line represents the salaries that would be predicted by a linear model.

Attachment:
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12.jpg [ 190.42 KiB | Viewed 2635 times ]


1. The rate of growth in the salaries began to increase sharply in approximately .

2. The linear model most successfully predicts the salary for .

Question #2 based on the same graph is available here

Data Insights (DI) Butler 2023-24 [Question #44, Date: Oct-16-2023] [Click here for Details]
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Official Answer
Dropdown 1: 1995
Dropdown 2: Mike Schmidt
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tabishkazi
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   17 Oct 2023, 23:38
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i have used eyeballing for 1 question? is there any matchamatical approach to it?
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   11 Dec 2023, 00:16
How is the answer 1995...please post the solution to this question
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   11 Dec 2023, 23:34
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1. The rate of growth in the salaries began to increase sharply in approximately __________.

Look for the bend in the exponential curve. The salaries increase much more quickly after that bend than before. That shift occurs around 1995.

Answer: D

2. The linear model most successfully predicts the salary for __________.

Pay attention to the dotted line, not the exponential curve. Look at the vertical distance from the line to the actual point. Of the players proposed, Mike Schmidt's point lies closest to the dotted line.

Answer: D
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   12 Dec 2023, 19:02
Hi,
I see the bend in the curve from 1994-1995 same as 1995 -1996.
Not still able to understand why the first answer is 1995. In that case the answer should be 1994, isn't it?
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   23 Dec 2023, 01:13
Mike's only one salary intersects with line. Others are way off. Cecil Fielder's both salaries are pretty close to the line. Sajjad1994
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   01 Jan 2024, 23:24
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ishahere wrote:
How is the answer 1995...please post the solution to this question


IMO the reason why its 1995 NOT 2000 because in 2000 the years prior the salaries were already increasing pretty heavily
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Re: The following graph shows the highest average annual value of contract [#permalink] New post   01 Jan 2024, 23:25
SKJapan wrote:
Mike's only one salary intersects with line. Others are way off. Cecil Fielder's both salaries are pretty close to the line. Sajjad1994


The line you need to look for the the dotted LINEAR line which intersects with Mike meaning its the most accurate
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Re: The following graph shows the highest average annual value of contract [#permalink]
01 Jan 2024, 23:25
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