The school that molly goes to is selling tickets to a choral performance. On the first day of ticket sales the school sold 6 sen
1 answer:
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This is a compound interest problem, therefore s(t) should be in the form:
where:
t = time in years
s(t) = the value of your item after t years
a = the initial value of your item
r = rate
Therefore, we already know that a = 245$.
Now, we can calculate r:
![r = \sqrt[t]{ \frac{s}{a} }](https://tex.z-dn.net/?f=r%20%3D%20%20%5Csqrt%5Bt%5D%7B%20%5Cfrac%7Bs%7D%7Ba%7D%20%7D%20)
![r = \sqrt[5]{ \frac{560.50}{245} }](https://tex.z-dn.net/?f=r%20%3D%20%5Csqrt%5B5%5D%7B%20%5Cfrac%7B560.50%7D%7B245%7D%20%7D%20)
= 1.18
Therefore, the correct answers are a = 245 and r = 1.18
where:
t = time in years
s(t) = the value of your item after t years
a = the initial value of your item
r = rate
Therefore, we already know that a = 245$.
Now, we can calculate r:
= 1.18
Therefore, the correct answers are a = 245 and r = 1.18
ŷ= 1.795x +2.195 is the equation for the line of best fit for the data
<h3>How to use regression to find the equation for the line of best fit?</h3>Consider the table in the image attached:
∑x = 29, ∑y = 74, ∑x²= 125, ∑xy = 288, n = 10 (number data points)
The linear regression equation is of the form:
ŷ = ax + b
where a and b are the slope and y-intercept respectively
a = ( n∑xy -(∑x)(∑y) ) / ( n∑x² - (∑x)² )
a = (10×288 - 29×74) / ( 10×125-29² )
= 2880-2146 / 1250-841
= 734/409
= 1.795
x' = ∑x/n
x' = 29/10 = 2.9
y' = ∑y/n
y' = 74/10 = 7.4
b = y' - ax'
b = 7.4 - 1.795×2.9
= 7.4 - 5.2055
= 2.195
ŷ = ax + b
ŷ= 1.795x +2.195
Therefore, the equation for the line of best fit for the data is ŷ= 1.795x +2.195
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