What is the logarithmic function modeled by the following table?
2 answers:
So we need to come up with a function that when we plug x into it, it gives us f(x). Logarithims ask: what exponent do I need to put on b (see the diagram to see what b is) to make it equal x. In the diagram below y is our f(x).
So we have logb (x) = f(x), we need to find what b is. Well the values look like 5 then 5 squared, then 5 cubed etc. So b=5.
To test this put one of the exponents (f(x)-values) on b and see if it equals the x value next to it in the table.
The answer is:
log 5 x = f(x)
So we have logb (x) = f(x), we need to find what b is. Well the values look like 5 then 5 squared, then 5 cubed etc. So b=5.
To test this put one of the exponents (f(x)-values) on b and see if it equals the x value next to it in the table.
The answer is:
log 5 x = f(x)
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Answer:
a.
b. The symbol y-bar represents the average price of hotels in the area
Step-by-step explanation:
a. The regression line equation is given by:
Where Alpha represents the slope, Beta represents the intercept with the Y axis, and epsilon represents the random component of the model. Thus,
y
Obtaining:
.
b. In a simple linear regression model the value of y-bar represents the average of all values of y observed. Thus, since y represents the prices of the hotels, then y-bar is the average price of hotels in the area.