Can someone please help me on this one?
1 answer:
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Answer:
A) m = 0.062
B) 202.87 thousand dollars
C) Original price = 116.07 thousand dollars. $6000 is called the error term.
Step-by-step explanation:
We are given the following in the question:
Price = 47.87+0.062(size)
The above equation is regression equation where price is in thousand dollars and size in square feet.
Let p be the prize and s be the size.
Comparing it to linear equation, we have,
where m is the slope and c is the y-intercept.
m = 0.062
c = 47.87
A) slope of the line
The slope of line tells the rate of change. Thus, it tells the change in price if the size of house is increased by 1 square feet.
The price of house increases by 0.062 thousand dollars if the size of house is increased by 1 square feet.
B) Price of house
We are given s = 2500. Putting this value in the equation.
Thus, the price of a 2500 square feet house is 202.87 thousand dollars.
C) We are given s = 1100
Putting the value in the equation:
Original price = 116.07 thousand dollars
Asking price =
The buyer is asking for 110.07 thousand dollars.
$6000 is called the error term.
Answer:
a) After 10 weeks Jim and Rhonda will have the same amount.
b) They both would have $350 in their account after 10 weeks.
Step-by-step explanation:
Given:
Amount Jim has = $310
Amount Jim adds per week = $4
Let the number of weeks be 'x'.
So we can say that;
Total amount Jim will have after 'x' week will be equal to amount Jim has plus amount Jim adds per week multiplied by number of weeks.
framing in equation form we get;
Total amount Jim will have after 'x' week =
Also Given:
Amount Rhonda has = $260
Amount Rhonda adds per week = $9
So we can say that;
Total amount Rhonda will have after 'x' week will be equal to amount Rhonda has plus amount Rhonda adds per week multiplied by number of weeks.
framing in equation form we get;
Total amount Rhonda will have after 'x' week =
a) We need to find the number of weeks in which the both will have same amount;
Now to find number of weeks in which the both bill have same amount;
we have to make both the equation equal and solve the same we get;
Combining the like terms we get;
Now using Division property of equality we will divide both side by 5 we get;
Hence After 10 weeks Jim and Rhonda will have the same amount.
b) We have to find amount they would have after 10 weeks.
To find the same we will substitute value of 10 in each equation we get;
Total amount Jim will have after '10' weeks =
Total amount Rhonda will have after '10' weeks =
Hence They both would have $350 in their account after 10 weeks.