2. The following is a linear regression model representing the median price of homes in a particular city since the year 1980: P(t) =3,240x+40,000 where Prepresents the price in dollars and t represents the number of years since 1980. a. Find the slope and interpret its meaning within the context of the problem Assuming that the trend continues, calculate the predicted median price in the year 2020 b.

2. The following is a linear regression model representing the median price of homes in a particular city since the year 1980: P(t) =3,240x+40,000 where Prepresents the price in dollars and t represents the number of years since 1980. a. Find the slope and interpret its meaning within the context of the problem Assuming that the trend continues, calculate the predicted median price in the year 2020 b.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.CR: Chapter Review Exercises

Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...

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Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4
bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s pole vault height has fallen below the value predicted by the regression line in Example 2. This might have occurred because when the pole vault was a new event there was much room for improvement in vaulters’ performances, whereas now even the best training can produce only incremental advances. Let’s see whether concentrating on more recent results gives a better predictor of future records. (a) Use the data in Table 2 (page 176) to complete the table of winning pole vault heights shown in the margin. (Note that we are using x=0 to correspond to the year 1972, where this restricted data set begins.) (b) Find the regression line for the data in part ‚(a). (c) Plot the data and the regression line on the same axes. Does the regression line seem to provide a good model for the data? (d) What does the regression line predict as the winning pole vault height for the 2012 Olympics? Compare this predicted value to the actual 2012 winning height of 5.97 m, as described on page 177. Has this new regression line provided a better prediction than the line in Example 2?
Life Expectancy The following table shows the average life expectancy, in years, of a child born in the given year42 Life expectancy 2005 77.6 2007 78.1 2009 78.5 2011 78.7 2013 78.8 a. Find the equation of the regression line, and explain the meaning of its slope. b. Plot the data points and the regression line. c. Explain in practical terms the meaning of the slope of the regression line. d. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 2019? e. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 1580?2300