Use a Graphing Utility to Find the Equation of the Line

question 92

Multiple Choice

Use a graphing utility to find the equation of the line of best fit. Round to two decimal places, if necessary.
- $$\begin{array} { c | c c c c c } x & 3 & 5 & 7 & 15 & 16 \\\hline y & 8 & 11 & 7 & 14 & 20\end{array}$$

• A) y = 0.75x + 4.07
• B) y = 0.85x + 3.07
• C) y = 0.95x + 3.07
• D) y = 0.75x + 5.07

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Definitions:

Buyers

Individuals or entities that purchase goods or services for consumption, use, or investment.

Total Surplus

The combined benefit that all participants (consumers and producers) receive in a market, represented by the sum of consumer and producer surplus.

Market Equilibrium

A condition in a market where the quantity demanded equals the quantity supplied, leading to a stable price.

Good

A tangible item that is produced and is capable of being offered to a market to satisfy a want or need.