+157 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 $31.50
2 $40.95
3 $53.24
4 $69.21
Does the increase in price represent linear or exponential growth? What is the growth factor or rate of change?
A. Exponential, and the growth factor is 1.3 per week
B. Linear, and the constant rate of change is $9.45 per week
C. Linear, and the growth factor is 1.3 per week
D. Exponential, and the constant rate of change is $9.45 per week
