The expression which best fit exists in the Linear model.
<h3>How to estimate the linear model?</h3>
Given: Monthly Rate = $20
Number of customers = 5000
If there exists a decrease of $1 in the monthly rate, the number of customers increases by 500.
Let us decrease the monthly rate by $1.
Monthly Rate = $20 - $1 = $19
Number of customers = 5000 + 500 = 5500
Let us decrease the monthly rate by $1 more.
Monthly Rate = $19 - $1 = $18
Number of customers = 5500 + 500 = 6000
Linear change in the number of customers whenever there exists a decrease in the monthly rate.
We have 2 pairs of values here,
x = 20, y = 5000
x = 19, y = 5500
The equation in slope-intercept form: y = mx + c
The slope of a function:
So, the equation is y = -500x + c
Putting x = 20, y = 5000:
Whether (18,6000) satisfies it.
Putting x = 18
Therefore, the expression which best fits exist Linear model.
To learn more about the linear model refer to:
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