Question

The regression equation y=3.610*1.194^x approximates the cost to go on a safari, y,given the number of years since it opened in 2005, X.What is the best estimate of the cost to go on a safari in 2,022 ? Round your answerto the nearest dollar.

Answer 1

Step 1:

Write the regression line equation.

`y\text{ = 3.610 }*1.194^x`

Step 2:

y represents the cost and x represent the number of years.

From 2005 till 2022

x = 17 years

Step 3:

Let find the cost to go on a safari in 2022.

`\begin{gathered} y\text{ = 3.610 }*1.194^x \\ \text{Substitute x = 17} \\ y\text{ = 3.610 }*1.194^(17) \\ y\text{ = 3.610 }*\text{ 20.37387116} \\ y\text{ = 73.54967489} \\ y\text{ = \$74} \end{gathered}`

Final answer

The cost to go on a safari in 2022 = $74