Respuesta :
Answer:
505.03 dollars
Step-by-step explanation:
Given that [tex]y=-1,240 + 7.07x[/tex]
is the best fit line for y the cost of ticket and x the no of days of notice.
x is independent and y the dependent variable.
0<x<30
Given that cost of ticket is 300 if x =30
y(30) = 300
i.e.
y(1)=?
Since slope of the line is 7.07 for every day increase we get cost increases by 7.07
Hence for 1 day notice we get 29 days difference from 30 days so cost would be
[tex]300+29(7.07)\\=505.03[/tex]
Hence predicted value from the regression line is 505.03
Answer:
$881
Step-by-step explanation:
Given : A line of regression y=-1,240 + 7.07 x is the best fit line for a set of data comparing airfare with 30 days notice and one-day notice.
To Find: Find the best predicted cost of a ticket purchased one day in advance given that the cost of the ticket is $300 if purchased 30 day in advance of the flight.
Solution:
Line pf Regression : [tex]y=-1240 + 7.07 x[/tex]
Where x is the cost of a ticket purchased on 30 days notice
y represents the cost of ticket on 1 day notice .
We are given that the cost of ticket was $300 when purchased 30 day in advance of the flight.
So, substitute x = 300
[tex]y=-1240 + 7.07(300)[/tex]
[tex]y=881[/tex]
Hence the best predicted cost of a ticket purchased one day in advance given that the cost of the ticket is $300 if purchased 30 day in advance of the flight is $881.
