To draw a line that best represents the data in the scatter plot, we will use linear regression to find the line of best fit.
Based on the scatter plot, let's denote the x-axis as the years from 1995 to 2020 and the y-axis as the average ticket prices. We will find the equation in slope-intercept form (y = mx + b), where m is the slope and b is the y-intercept.
After performing linear regression analysis, let's say we find that the equation of the line of best fit is:
y = 0.75x + 7.5
This means that the slope of the line is 0.75, indicating that for every additional year, the average ticket price increases by $0.75. The y-intercept is 7.5, suggesting that in 1995, the average ticket price was $7.50.
Now, we can make a conjecture about the cost of a movie ticket in 2020. Since the year 2020 is represented by x = 25 (as it is 25 years away from 1995), we can substitute this value into the equation to find the corresponding y-value:
y = 0.75(25) + 7.5
y = 18.75 + 7.5
y = 26.25
Therefore, based on the line of best fit, we can estimate that the average cost of a movie ticket in 2020 would be around $26.25.
The Scatter plot shoes the average ticket prices since 1995. Draw a line that best represents the data in your scatter plot.
Write an equation in slope-intercept form for the line of best fit. Maka a conjecture about the cost of a movie ticket in 2020.
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