To find which of the following best predicts the fee in the year 2020.
Answer to Problem 21PFA
C
Explanation of Solution
Given information: The table shows the canceled check fee for a bank from 2013 to
2016.
Years | 0 | 1 | 2 | 3 |
Fee($) | 5 | 10 | 10 | 15 |
Formula used:
The equation for the regression line or line of best fit is given below.
Calculation:
Let x be the number of years since 2013and y represents the canceled check fee($).
Years x | 0 | 1 | 2 | 3 |
Fee($) y | 5 | 10 | 10 | 15 |
Use a graphing calculator for above table ,
Line of Best Fit ,
To estimate thebest predicts the fee in 2020, evaluate the Line of Best fit for x = 7 because 2020 is 7 years after 2013.
Chapter 4 Solutions
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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