Chapter 4.6, Problem 3CYU

To determine

The graph and equation for median-fit line for the data shown below.

Distance from lake (mi)	0.0 (houseboat)	0.3	0.5	1.0	1.25	1.5	2.0
Price per Night ($)	785	325	250	200	150	140	100

Answer to Problem 3CYU

The equation for median fit line is $y=-271.87x+554.48$ .

Explanation of Solution

Given:

The given data is shown as,

Distance from leke (mi)	0.0 (houseboat)	0.3	0.5	1.0	1.25	1.5	2.0
Price per Night ($)	785	325	250	200	150	140	100

Calculation: The equation for the median-fit line using the calculator for the given data is written as,

  $y=-271.87x+554.48$

The graph for the median fit line is shown as,

  

To determine

The estimated cost for rental of 1.75 miles from the lake.

Answer to Problem 3CYU

The estimated cost for rental of 1.75 miles is $78.70.

Explanation of Solution

Given:

The given data is shown as,

Distance from leke(mi)	0.0 (houseboat)	0.3	0.5	1.0	1.25	1.5	2.0
Price per Night ($)	785	325	250	200	150	140	100

Calculation: Plugging for $\left(x=1.75\right)$ in (1) and evaluating $\left(y\right)$ for the given value of $\left(x\right)$ according to question,

  $\begin{array}{c}y=-271.87\left(1.75\right)+554.48\\ =78.70\end{array}$

Hence, the estimated cost for rental of 1.75 miles is $78.70.