For a particular diamond mine, 78% of the diamonds fail to qualify as "gemstone grade". A random sample of 106 diamonds is analy
1 answer:
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Answer:
a. y-intercept = 23350 and x-intercept = 13
b.
c.
Step-by-step explanation:
Given
Solving (a): The x and y intercepts
The y intercept is the initial depreciation value
i.e. when x = 0
This value is the value of the car when it was initially purchased.
Hence, the y-intercept = 23350
The x intercept is the year it takes to finish depreciating
i.e. when y = 0
From the question, we understand that it takes 13 years for the car to totally get depreciated.
Hence, the x-intercept = 13
Solving (b): The slope
The slope (m) is the rate of depreciation per year
This is calculated by dividing the total depreciation by the duration.
So:
Because it is depreciation, it means the slope represents a deduction.
So,
Solving (c): The straight line equation
The general format of an equation is:
Where
In (a), we have that:
In (b), we have that:
Substitute these values in
<em>Hence, the depreciation equation is: </em><em></em>