Use a Graphing Utility to Find the Equation of the Line

question 118

Multiple Choice

Use a graphing utility to find the equation of the line of best fit. Round to two decimal places, if necessary.
-Ten students in a graduate program were randomly selected. Their grade point averages (GPAs) when they entered the program were between 3.5 and 4.0. The following data were obtained regarding their GPAs on entering the program
Versus their current GPAs. $\begin{array}{cc}\text { Entering GPA } & \text { Current GPA } \\\hline 3.5 & 3.6 \\3.8 & 3.7 \\3.6 & 3.9 \\3.6 & 3.6 \\3.5 & 3.9 \\3.9 & 3.8 \\4.0 & 3.7 \\3.9 & 3.9 \\3.5 & 3.8 \\3.7 & 4.0\end{array}$

• A) \(y = 0.50 x + 5.81\)
• B) \(y = 0.03 x + 3.67\)
• C) \(y = 0.02 x + 4.91\)
• D) \(y = 0.33 x + 2.51\)

---

Definitions:

Luxury Good

A product that is not necessary for basic survival but is deemed as highly-desirable within a culture or society, often associated with wealth or quality.

Income Elasticity

A measure of how the demand for a good or service changes in response to changes in consumer income.

Homothetic Preferences

A situation in consumer theory where a consumer's preference structure can be represented by a utility function that is proportionally scalable.

Engel Curve

A graphical representation that shows the relationship between income and the demand for a good or service, keeping all other factors constant.