Question

You research the cost of a gallon of gasoline over several years to look for a trend. The table shows your data. The line of best fit uses years since 1980 as the input value. What is a line of best fit for the data? Based upon these prices, how much would you expect to pay in 2030?
pls show work
Year 1980 1984 1988 1992 1996 2000 2004 2008 2012
Price per Gallon $1.25 $1.27 $1.05 $1.28 $1.43 $1.68 $2.11 $3.72 $3.99

Answer 1

Plotting the data to get the line of best fit, it is:
y = 0.087x + 0.587

substitute x=2030-1980=50,
y = $4.94 is the price in 2030