Question

The equation y = 23.67x + 13.12 fits the scatterplot of the values for stock

ABC over the past month with an r-value of 0.9957. How much do you think
ABC will be worth at x = 28 days?
A. 13.12
B. 23.67
C. 698.74
D. 675.88

Answer 1

Explanation:

The given equation is y = 23.67x + 13.12, where y is the value of the stock ABC and x is the number of days. The r-value of 0.9957 indicates a strong positive correlation between the two variables, which suggests that the equation is a good fit for predicting the value of the stock.

To find the value of the stock ABC at x = 28 days, we need to substitute x = 28 into the equation and solve for y:

y = 23.67(28) + 13.12

y = 663.76 + 13.12

y = 676.88

Therefore, the predicted value of the stock ABC at x = 28 days is $676.88.

The closest answer option is D. 675.88, but the correct answer is actually slightly higher at $676.88.

Answer 2

We are given a linear equation y = 23.67x + 13.12, where 'x' is the number of days and 'y' is the stock value.

Now, we need to predict the stock value for 'x' equals to 28 days. To do so, we substitute x = 28 into the equation.

Start by multiplying the given value of x with the slope:
23.67 times 28 equals 662.76.

Next, add the y-intercept to the result from the first step. So you take 662.76 and you add 13.12.
The sum is 675.88.

So, according to our calculation, the ABC stock would be worth 675.88 on the 28th day.

So, the answer is

Answer: D. 675.88.