Final answer:
The equation of the line of best fit is y = 0.0628x - 17.15.
Step-by-step explanation:
To determine the equation of the line of best fit using linear regression, we need to find the slope and y-intercept. We can use the formula for the slope of a line: slope = (Σ(x * y) - (Σx * Σy) / n) / (Σ(x^2) - (Σx)^2 / n). First, calculate the values for Σ(x * y), Σx, Σy, Σ(x^2), and n. Then substitute these values into the formula to find the slope. Next, calculate the y-intercept using the equation: y-intercept = (Σy - slope * Σx) / n. The equation of the line of best fit will be in the form y = mx + b, where m is the slope and b is the y-intercept.
Let's calculate the values:
Σ(x * y) = (160 * 19.0) + (410 * 20.0) + (580 * 9.95) = 53560.5
Σx = 160 + 410 + 580 = 1150
Σy = 19.0 + 20.0 + 9.95 = 48.95
Σ(x^2) = 160^2 + 410^2 + 580^2 = 499000
n = 3 (since we have data for 3 business trips)
Now, substitute these values into the formula:
slope = (53560.5 - (1150 * 48.95) / 3) / (499000 - (1150)^2 / 3) = 0.0628
Next, calculate the y-intercept:
y-intercept = (48.95 - 0.0628 * 1150) / 3 = -17.15
Therefore, the equation of the line of best fit is y = 0.0628x - 17.15.