b. Use technology to find the equation of the line of best fit, y = mx + b, and the coefficient ofdetermination and interpret the slope, the vertical intercept, and the coefficient of determination.(Round the answers to 3 decimal places.)i. m$/$o is the=the rate of change of the price of a dozen eggsii. 6 =o is the%3Dprice of a dozen eggs when the price of gas is zero viii.r?hence there is a strongoo linear relation.c. Use the line of best fit to:i. estimate the price of a dozen eggs when the price of gas is 2.55 dollars per gallon.Answer:dollars. (Round the answer to 2 decimal places)ii. estimate the price of gas when the price of dozen eggs is 1.53 dollars.Answer:dollars per gallon. (Round the answer to 2 decimal places)%24 Gas price pergallon ($)CityPrice of a dozen eggs ($)Orlando2.670.91Chicago2.740.96Los Angeles2.81.38Minneapolis2.871.4Tucson2.91.44Portland3.091.72Kansas City3.121.76Pittsburgh3.371.81Philadelphia3.41.88Seattle3.721.91

Gas price per gallon ($) City Price of a dozen eggs ($) Orlando 2.67 0.91 Chicago 2.74 0.96 Los Angeles 2.8 1.38 Minneapolis 2.87 1.4 Tucson 2.9 1.44 Portland 3.09 1.72 Kansas City 3.12 1.76 Pittsburgh 3.37 1.81 Philadelphia 3.4 1.88 Seattle 3.72 1.91

Gas price per gallon ($) City Price of a dozen eggs ($) Orlando 2.67 0.91 Chicago 2.74 0.96 Los Angeles 2.8 1.38 Minneapolis 2.87 1.4 Tucson 2.9 1.44 Portland 3.09 1.72 Kansas City 3.12 1.76 Pittsburgh 3.37 1.81 Philadelphia 3.4 1.88 Seattle 3.72 1.91

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

Section3.3: Modeling Data With Linear Functions

Problem 18E: Tax Table Here are selected entries from the 2014 tax table that show the federal income tax owed by...

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

b. Use technology to find the equation of the line of best fit, y = mx + b, and the coefficient of
determination and interpret the slope, the vertical intercept, and the coefficient of determination.
(Round the answers to 3 decimal places.)
i. m
$/$
o is the
=
the rate of change of the price of a dozen eggs
ii. 6 =
o is the
%3D
price of a dozen eggs when the price of gas is zero v
iii.r?
hence there is a strong
oo linear relation.
c. Use the line of best fit to:
i. estimate the price of a dozen eggs when the price of gas is 2.55 dollars per gallon.
Answer:
dollars. (Round the answer to 2 decimal places)
ii. estimate the price of gas when the price of dozen eggs is 1.53 dollars.
Answer:
dollars per gallon. (Round the answer to 2 decimal places)
%24

Gas price per
gallon ($)
City
Price of a dozen eggs ($)
Orlando
2.67
0.91
Chicago
2.74
0.96
Los Angeles
2.8
1.38
Minneapolis
2.87
1.4
Tucson
2.9
1.44
Portland
3.09
1.72
Kansas City
3.12
1.76
Pittsburgh
3.37
1.81
Philadelphia
3.4
1.88
Seattle
3.72
1.91

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