Question

A customer's stock value seems to be rising exponentially. The equation for

the linearized regression line that models this situation is log(y) = 0.30x +0.296,
where × represents number of weeks. Which of the following is the best
approximation of the number of weeks that will pass before the value of the
stock reaches $600?

Answer 1

B: 8.3

Explanation:

We will substitute 600 to the y, since our final answer will be a number that makes the value of the stock reach $600.

log (y) = 0.30x + 0.296

Replacing y with 600, the equation becomes:

log (600) = 0.30x + 0.296

2.78 = 0.30x + 0.296

To move all the x and real numbers to different sides, we take 0.296 away from both sides to form:

2.78 - 0.296 = 0.30x

2.484 = 0.30x

x = 8.28

The approximation of 8.28 will be rounded to 8.3.

Then our final answer will be B: 8.3