Provide an Appropriate Response $\begin{array}{rrrrrr}x & 1.2 & 2.7 & 4.4 & 6.6 & 9.5 \\\hline y & 1.6 & 4.7 & 8.9 & 9.5 & 12.0\end{array}$

question 39

Short Answer

Provide an appropriate response. For the data below, determine the logarithmic equation, ya=+b lnx that best fits the data. Hint: Begin by replacing each x-value with ln x then use
The usual methods to find the equation of the least squares regression line. $\begin{array}{rrrrrr}x & 1.2 & 2.7 & 4.4 & 6.6 & 9.5 \\\hline y & 1.6 & 4.7 & 8.9 & 9.5 & 12.0\end{array}$

A) $\hat { y } = - 0.458 + 5.36 \ln x$
B) $\hat { y } = - 0.881 + 4.86 \ln x$
C) $\hat { y } = - 1.81 + 6.91 \ln x$
C) $\hat { y } = 0.457 + 5.06 \ln x$

• A) \(\hat { y } = - 0.458 + 5.36 \ln x\)
• B) \(\hat { y } = - 0.881 + 4.86 \ln x\)
• C) \(\hat { y } = - 1.81 + 6.91 \ln x\)
• C) \(\hat { y } = 0.457 + 5.06 \ln x\)

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a competitive market.

Break-Even Price

The price point at which total revenues equal total costs, resulting in no profit or loss for the business, used as a measure of financial sustainability.

Variable Costs

Expenses that vary in relation to a company's production volume or operational activities.

Lawn-Mowing Service

A business that provides the service of cutting the grass on residential or commercial properties.