A sample of 56 research cotton samples resulted in a sample average percentage elongation of 8.63 and a sample standard deviatio
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Given:
The cost y (in dollars) of renting a segway for x hours is
To find:
The initial fee and the cost per hour.
Solution:
We have,
...(i)
The slope intercept form of a linear equation is
...(ii)
where, m is slope is b is y-intercept or initial value.
From (i) and (ii), we get
The value of m is 30, so the slope is 30. It means cost per hour is $30.
The value of b is 25, so y-intercept is 25. It means the initial fee is $25.