They give me the equation c(x) = 0.19x^-0.657x + 16.6 They also give me a graph, but I think what matters for this exercise is the equation. The exercise asks me:
a) Assuming the current trend continues, estimate the annual rent per square foot in 2004
b) In what year was the annual rent per square foot a minimum?
c) Estimate the minimum annual rent per square foot.
I already looked the answers in the book, but I only got the right answer for part (c). I don't know what equation to use to answer parts (a) and (b). I tried using the Quadratic Formula, but that didn't give me the correct answer.
Could someone please help me find the equation to use? Thank you!
a) Assuming the current trend continues, estimate the annual rent per square foot in 2004
b) In what year was the annual rent per square foot a minimum?
c) Estimate the minimum annual rent per square foot.
I already looked the answers in the book, but I only got the right answer for part (c). I don't know what equation to use to answer parts (a) and (b). I tried using the Quadratic Formula, but that didn't give me the correct answer.
Could someone please help me find the equation to use? Thank you!