Answer:
11.38.
Step-by-step explanation:
Given :The price of a movie ticket in a given year can be modeled by the regression equation
, where y is the ticket price and x is the year.
To Find: . To the nearest cent, which is the best prediction of the price of a ticket in year 25?
Solution:
![y = 6.94(1.02^x)](https://tex.z-dn.net/?f=y%20%3D%206.94%281.02%5Ex%29)
Where y is the ticket price and x is the year.
Now we are supposed to find which is the best prediction of the price of a ticket in year 25
Substitute x = 25 in the given equation.
![y = 6.94(1.02^{25})](https://tex.z-dn.net/?f=y%20%3D%206.94%281.02%5E%7B25%7D%29)
![y =11.38580](https://tex.z-dn.net/?f=y%20%3D11.38580)
Thus the best prediction of the price of a ticket in year 25 is 11.38.