Question

A student taking an advanced mathematics needed a more advanced calculator. Ebay.com had several auctions for the calculator. The time remaining in the auctions and the current bid price were recorded. Here is the scatterplot of the data, along with the equation of the regression lineWhich of the following is the best statement about a calculator with 40 minutes remaining and a calculator with 3 hours remaining?

Answer 1

The scatter plot shows the relationship between the time left and current bid of a calculator.

The true statement is: the predicted bid for a calculator with 40 minutes remaining is less than that of a calculator with 3 hours remaining

The regression equation is given as:

$\mathbf{y =60.386 +0.322x}$

When x = 40 (i.e. 40 minutes), we have:

$\mathbf{y =60.386 +0.322\times 40}$

$\mathbf{y =60.386 +12.88}$

$\mathbf{y =73.266}$

When x = 180 (i.e. 3 hours), we have:

$\mathbf{y =60.386 +0.322\times 180}$

$\mathbf{y =60.386 +57.96}$

$\mathbf{y =118.346}$

By comparison: 73.266 < 118.346

Hence, the predicted bid for a calculator with 40 minutes remaining is less than that of a calculator with 3 hours remaining

Read more about scatter plots at:

https://brainly.com/question/12636182