Final answer:
To find the equation for the line of best fit, enter the data into a calculator and use the regression function. The model is a good fit if the data points are clustered around the line of best fit and close to the x-axis.
Step-by-step explanation:
The equation for the line of best fit can be found using the regression function on a calculator. To do this, you need to enter the data into the calculator and create a scatter plot. Then, use the regression function to find the equation of the least-squares regression line. Add this line to the scatter plot. The equation will be in the form y = mx + b, where m is the slope of the line and b is the y-intercept.
To determine if the model is a good fit for the data, you need to examine the scatter plot. If the data points are clustered around the line of best fit and close to the x-axis, the model is a good fit. If the data points are far from the x-axis or randomly distributed above and below the x-axis, the model is a bad fit.
It is important to note that the equation of the line of best fit is specific to the sample data and should not be used to make predictions for values outside the set of data.