Question

A study was conducted on the age of a car and its mileage. After using the averaging method for the line of best fit, the two representative points found were (5, 60,000) and (10, 100,000). What is true about the line of best fit for this data? Select all that apply.

Answers:
A) The estimated slope is 8,000.
B) The y-intercept is 8,000.
C) The equation for the line of best fit of this data is y = 8,000 x + 20,000.
D) The equation for the line of best fit of this data is y = 20,000 x + 8,000.
E) The estimated slope is 20,000.

Answer 1

The slope of the line of best fit is 8,000 and the y-intercept is 20,000. The equation for the line of best fit is y = 8,000x + 20,000.

Step-by-step explanation:

The line of best fit can be determined using the averaging method. To find the slope, we can use the formula:

slope = (y2 - y1) / (x2 - x1)

Using the points (5, 60,000) and (10, 100,000), the slope is:

slope = (100,000 - 60,000) / (10 - 5) = 8,000

The following formula can be used to find the y-intercept:

y-intercept = y - slope * x

Using either of the two points, let's use (5, 60,000), the y-intercept is:

y-intercept = 60,000 - 8,000 * 5 = 20,000

As a result, the line of best fit equation is:

y = 8,000x + 20,000