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The price of a movie ticket in a given year can be modeled by the regression equation y = 6.94(1.02x), where y is the ticket price and x is the year. To the nearest cent, which is the best prediction of the price of a ticket in year 25? (Year 1 = 2007)

User PDRX
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2 Answers

0 votes
I would say that the price would be 176.97.
User Jin Kim
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3 votes

Answer:

11.38.

Explanation:

Given :The price of a movie ticket in a given year can be modeled by the regression equation
y = 6.94(1.02^x), where y is the ticket price and x is the year.

To Find: . To the nearest cent, which is the best prediction of the price of a ticket in year 25?

Solution:


y = 6.94(1.02^x)

Where y is the ticket price and x is the year.

Now we are supposed to find which is the best prediction of the price of a ticket in year 25

Substitute x = 25 in the given equation.


y = 6.94(1.02^(25))


y =11.38580

Thus the best prediction of the price of a ticket in year 25 is 11.38.

User Don Omondi
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