Question

Use linear regression to find the equation of the line that best fits the data. Predict the average retail price of a game system that is 77 years old in the spring of 1997. At what age is the game system​ worthless?
Average base retail price in the spring of 1997 for a game system


Age(years) Retail price($)

1 480

2 441

3 310

4 248

5 167

Answer 1

Answer:

Kindly check explanation

Step-by-step explanation:

Given the following:

X: _1_____2_____3_____4_____5

Y: 480__441____310___248___167

Using the linear regression calculator :

ŷ = -81.9X + 574.9

Where ;

y = predicted variable

x = independent variable

-81.9 = gradient or slope (m)

574.9 = intercept

Average retail price of fame at age 77

ŷ = -81.9X + 574.9

ŷ = -81.9(77) + 574.9

y = - 6306.3 + 574.9

y = −5731.4

At what age is the game system worthless :

Retail Price = y = $0

ŷ = -81.9X + 574.9

0 = - 81.9X + 574.9

81.9X = 574.9

X = 574.9 / 81.9

X = 7.019

X = 7

Hence, game system is worthless at age 7