To find the equation for a line of best fit, we can use linear regression. Using the given data, let's calculate the equation:
Year (x): 0, 2, 4, 6, 8, 10
Cost ($): 26.40, 27.20, 29.70, 29.30, 32.20, 37.80
Using a calculator or statistical software, we find that the equation for the line of best fit is:
Cost ($) = 0.5600x + 26.560
To find how much you would expect to pay for a tank of gas in the year 2019, we need to find the corresponding value of x. Since 2019 is 21 years after 1998, the value of x would be:
x = 21
Substitute x = 21 into the equation for the line of best fit:
Cost (2019) = 0.5600(21) + 26.560
Cost (2019) = 11.760 + 26.560
Cost (2019) ≈ 38.32
Therefore, you would expect to pay approximately $38.32 for a tank of gas in the year 2019.
You research the average cost of a tank of gasoline for a certain type of car for several recent years to look for trends. The table shows your data. What is the equation for a line of best fit? How much would you expect to pay for a tank of gas in the year 2019? Let x be the number of years after 1998.
Year:1998,2000,2002,2004,2006,2008
Average cost for one tank:$26.40,$27.20,$29.70,$29.30,$32.20,$37.80
1 answer
1 answer