Use a Graphing Utility to Find the Equation of the Line

question 276

Multiple Choice

Use a graphing utility to find the equation of the line of best fit. Round to two decimal places, if necessary.
- $\begin{array}{c|ccccc}x & 0 & 3 & 4 & 5 & 12 \\\hline y & 8 & 2 & 6 & 9 & 12\end{array}$

• A) \(y = 0.63 x + 4.88\)
• B) \(y = 0.53 x + 4.88\)
• C) \(y = 0.73 x + 4.98\)
• D) \(y = 0.43 x + 4.98\)

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Definitions:

Wage Rate

The amount of compensation received by an employee per hour worked or for a specific task completed.

MRP

Marginal Revenue Product, the additional revenue generated by employing one more unit of a resource, critical in resource allocation.

Capital

Financial assets or resources that businesses or individuals use to generate wealth through investment, production, or development.

Labor

The physical and mental effort used in the production of goods and services, often considered one of the primary factors of production.