How to find the rate (r) of a exponential regression equation?
6872=14592(1+r/1)11
In all fairness GoldenLeaf you have answered this question very well.
HOWEVER
The question that the asker intended is not the one that you answered.
The intended question was
6872=14592(1+r/1)^11
I know this because the word exponential was used in the question.
6872=14592(1+r)11687214592=(1+r)11log(687214592)=log(1+r)11log(687214592)=11log(1+r)log(687214592)11=log(1+r)10log(687214592)11=10log(1+r)10log(687214592)11=1+r10log(687214592)11−1=r
10(log10(687214592)11)−1=−0.0661656429772948
r≈−0.066
Just plug it in!
6872=14592×(1+r1)×11⇒r=−1920520064⇒r=−0.9571870015948963
I'll try to show some work, but gimme a sec.
As far as I know, we need to isolate the 'r'.
First combine like terms.
6872=160512×(1+r1)
Divide 6872 by 160512
6872160512=0.0428129984051037
0.0428129984051037=1+r1
The 'r/1' can be just 'r'. All that's needed is to subtract 1 from 0.0428129984051037
0.0428129984051037−1=−0.9571870015948963
−0.9571870015948963=r
And thus, the work =)
In all fairness GoldenLeaf you have answered this question very well.
HOWEVER
The question that the asker intended is not the one that you answered.
The intended question was
6872=14592(1+r/1)^11
I know this because the word exponential was used in the question.
6872=14592(1+r)11687214592=(1+r)11log(687214592)=log(1+r)11log(687214592)=11log(1+r)log(687214592)11=log(1+r)10log(687214592)11=10log(1+r)10log(687214592)11=1+r10log(687214592)11−1=r
10(log10(687214592)11)−1=−0.0661656429772948
r≈−0.066