Question

The prediction equation y = 5.92x + 119.21 models the median selling price, in thousands of dollars, of new homes in a certain area since 1995. Predict the median selling price in 2015.(Do not separate the numbers

Answer 1

$237.61

Explanation:

given that the function to predict the price is

y = 5.92x + 119.21

x= the number of year,

given that we are predicting from 1995-2015

the difference is 20years

So put x=20 in the expression we have

y = 5.92(20) + 119.21

y=118.4+119.21

y=237.61

the median price is $237.61