+0  
 
0
323
3
avatar+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

JIQJK  Mar 26, 2015

Best Answer 

 #1
avatar+3682 
+13
X (Number of Years Since 1980Y (Price)
01
51.06
81.18
111.36
131.40

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
Sort: 

3+0 Answers

 #1
avatar+3682 
+13
Best Answer
X (Number of Years Since 1980Y (Price)
01
51.06
81.18
111.36
131.40

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
avatar+91432 
+3

WOW BJ that is impressive 

Melody  Mar 27, 2015
 #3
avatar+3682 
0

Thank you, Melody! :)

BrittanyJ  Mar 27, 2015

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