Question

PLEASE ANSWER ASAP!!! A real-estate agent is trying to determine the relationship between the distance a 3-bedroom home is from new york city and it's average selling price. He records the data for 6 homes in the table below write an equation for the line of best fit, then approximate the cost of a home located 90 miles from new york city.

x|10|35|50|65|75|120
y|755,000|650,000|580,000|505,000|475,000|285,000
*x=miles from NYC; y=cost of home

Answer 1

Equation: y = -4.3 + 795.6

Approximate cost = $409,000

Explanation:

Given:

A real-estate agent is trying to determine the relationship between the distance a 3-bedroom home is from new york city and it's average selling price.

He records the data for 6 homes in the table below:

To Find:

write an equation for the line of best fit, then approximate the cost of a home located 90 miles from new york city.

Solve:

Approximate = About:

a ≈ -4.3 and b ≈ 795.6, the equation is y = -4.3 + 795.6.

If a home is x = 90 miles from NYC, then y = -4.3 (90) + 795.6 = 408.6 ≈ 409.

The cost of the home is then about $409,000.

y = -4291.1x+795557

Since x = 90 then

y = -4291.1 x 90 + 795557 = 409358

[RevyBreeze]