Solve the Problem Find the Slope of the Line of Best Fit for Money

question 83

Essay

Solve the problem.
-The following data represents the amount of money Tom is saving each month since he graduated from college. $$\begin{array} { l | l c c c c c c } \text { month } & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\\hline \text { savings } & \$ 52 & \$ 70 & \$ 81 & \$ 91 & \$ 102 & \$ 118 & \$ 132\end{array}$$ Find the slope of the line of best fit for the data set and interpret it.

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Definitions:

Land Improvements

Enhancements made to a parcel of land to increase its value, such as landscaping, drainage systems, and sidewalks, which are typically depreciatable over their useful life.

Diminishing-Balance Method

A method of calculating depreciation on an asset, where the depreciation expense decreases over time, applying a constant rate to the reducing book value of the asset.

Canada Revenue Agency

The federal agency responsible for administering tax laws for the Canadian government and various provinces and territories, as well as overseeing various social and economic benefit and incentive programs through taxation.