Question

A reporter collected data on y, the current market value, in dollars, of a certain car for various years, x, after it had been purchased new. The equation below was fit to the data. y = 16,500 - 1,500x

Answer 1

Questions that followed :

What does the slope of the graph of this equation represent?

What does y-intercept of the graph of this equation represent?

Answer:

Kindly check explanation

Explanation:

Given the model:

y = 16,500 - 1,500x

The slope = - 1500 ; this is a negative slope and means that the dependent variable will decrease with increase in the independent variable.

This means that, the market value of a car will decrease by 1500 per unit increase in year (a yearly fall of 1500 from the market value of cars per year after purchase).

The y - intercept is the value of y (market value) when x (number of years ) = 0 ; This means that the intercept value of 16500, is the initial prove of the car ; current value when the car hasn't been used.