Answer:
Correct choice is B
Step-by-step explanation:
The exponential regression model can be written as exponential function
[tex]y=a\cdot b^x.[/tex]
Then
[tex]5,000=a\cdot b^0=a,\\ \\5,510=a\cdot b^2\Rightarrow 5,510=5,000\cdot b^2,\\ \\b^2=\dfrac{5,510}{5,000}=\dfrac{551}{500}\Rightarrow b\approx 1.05.[/tex]
Thus,
[tex]y=5,000\cdot (1.05)^x.[/tex]
When [tex]x=12,[/tex] you get
[tex]y(12)=5,000\cdot (1.05)^{12}\approx \$8,980.[/tex]
