I want you to examine the change in value of a game released in the summer...

I want you to examine the change in value of a game released in the summer of 2004. It released at a price of $375, and the more recent ones on eBay sold for roughly $2400. For simplicity, you should consider 2004 as time 0 (t = 0) to keep the numbers more manageable. I recommend rounding values to 3 decimal places where applicable.

a) Find a linear appreciation (for money, we say “appreciation” rather than growth) model for the game. b) Find an exponential appreciation model for the game.

c) What do the models forecast the value to be in 2023?

c) Produce graphs of the two models on the same set of axes over the interval t = 0 years to t = 20 years together so you can see how the graphs compare. Axis labels should be marked. Don’t just produce a rough sketch of the graph; make a good detailed graph.

d) Which model shows a greater rate of appreciation (rate of growth) in the first 3 years? e) Explain the advantages and disadvantages of each model for someone who owns it.

Expert Solution

orchestra answered 1 year ago

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