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What do you expect to pay for gas in 2019?

Chart:

1998-26.40

2000-27.20

2004-29.70

2006-32.20

2008-37.80

 

Answer choices:

A- Y=1.006x+26.40;$47.52

B- Y=1.006x+26.40;$58.92

C- Y=26.40x+1.006;$47.52

D- Y=26.40x+1.006;$58.92

 Oct 9, 2015
 #1
avatar+28129 
+1

I would say none of the given answers!

 

cost

Firstly, it's not very linear.

 

Secondly, if we do assume a best-fit linear equation the result is dollars = 1.033*(years after 1998) + 25.29

 

Thirdly, even if we assume a particular functional form over the given years, extrapolating for a further 11 years is way too far!!

 Oct 9, 2015

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