Question

The scatter plot shows the profit by the month for a new company during its first year of operation. Which equation most closely models the line of best fit for the scatter plot? A) y = 5x B) y = 2.5x C) y = 5x + 1000 D) y = 2.5x + 1000

Answer 1

The equation most closely models the line of best fit for the scatter plot is y = 2.5x

Equation of a line graphs

A line is the defines as the minimum distance between two points. The equation of a line is given in the form y =mx + b

where:

• m is the slope
• b is the intercept

In order to determine the required equation, we can use the coordinate  (3, 5000) and (9, 20000)

Determine the slope

Slope = 20000-5000/9-3
Slope = 15000/6 = 2500

Determine the y-intercept

5000 = 2500(3) + b

b = 5000 - 7500
b = -2500

Determine the equation

y = 2.5x - 2.5

Therefore the equation most closely models the line of best fit for the scatter plot is y = 2.5x

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