+0

# line of best fit

0
644
3
+10
 year 1980 1985 1988 1991 1993 cost \$1 \$1.06 \$1.18 \$1.36 \$1.40

write the equation for the line of the best fit for the data. let x be the number of years since 1980 and let y represents the price in dollars

JIQJK

Mar 26, 2015

#1
+3691
+13
 X (Number of Years Since 1980 Y (Price) 0 1 5 1.06 8 1.18 11 1.36 13 1.40

Since "X" is the number of years since 1980, I would convert the years and subtract each of them by 1980. For example, in 1985, the cost was \$1.06. Therefore, I would use the number "5" since that is how many years it has been since 1980. This applies to all of the years listed.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In order to find the equation of the line (based off the data), you would have to use the equation model:

\$\$y=mx+b\$\$

The variable "m" represents the slope of the line, while "b" represents the y-intercept.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The first step is to find the slope (m) by using this formula:

slope = △X/△Y

This is how you solve for the slope:

slope = △Y/△X → (y2-y1)/(x2-x1)

After substituting all of the values, you would get this for your slope:

\$\$y=1/25x+b\$\$

According to this "almost-complete" equation, the slope is equal to 1/25.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Now, "b" is equal to the y-intercept of the graph.

To find the "b" variable, I would look at the table above. The first point listed is (0,1). Therefore, you know that the origin of the graph is at 0. As a result, The y-intercept is equal to 1.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

FINALLLYYY! You have the information you need to answer your question! LOL

The model of the equation is the following:

\$\$y=mx+b\$\$

m = 1/25

b=1

soooooooo........

The equation is y = 1/25x + 1

Mar 26, 2015

#1
+3691
+13
 X (Number of Years Since 1980 Y (Price) 0 1 5 1.06 8 1.18 11 1.36 13 1.40

Since "X" is the number of years since 1980, I would convert the years and subtract each of them by 1980. For example, in 1985, the cost was \$1.06. Therefore, I would use the number "5" since that is how many years it has been since 1980. This applies to all of the years listed.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In order to find the equation of the line (based off the data), you would have to use the equation model:

\$\$y=mx+b\$\$

The variable "m" represents the slope of the line, while "b" represents the y-intercept.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The first step is to find the slope (m) by using this formula:

slope = △X/△Y

This is how you solve for the slope:

slope = △Y/△X → (y2-y1)/(x2-x1)

After substituting all of the values, you would get this for your slope:

\$\$y=1/25x+b\$\$

According to this "almost-complete" equation, the slope is equal to 1/25.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Now, "b" is equal to the y-intercept of the graph.

To find the "b" variable, I would look at the table above. The first point listed is (0,1). Therefore, you know that the origin of the graph is at 0. As a result, The y-intercept is equal to 1.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

FINALLLYYY! You have the information you need to answer your question! LOL

The model of the equation is the following:

\$\$y=mx+b\$\$

m = 1/25

b=1

soooooooo........

The equation is y = 1/25x + 1

BrittanyJ Mar 26, 2015
#2
+95360
+3

WOW BJ that is impressive

Mar 27, 2015
#3
+3691
0

Thank you, Melody! :)

Mar 27, 2015