Use a Graphing Utility to Find the Equation of the Line

question 189

Multiple Choice

Use a graphing utility to find the equation of the line of best fit. Round to two decimal places, if necessary.
- $$\begin{array} { c | c c c c } \mathrm { x } & 2 & 4 & 5 & 6 \\\hline \mathrm { y } & 7 & 11 & 13 & 20\end{array}$$

• A) y = 2.8x
• B) y = 3x + 0.15
• C) y = 2.8x + 0.15
• D) y = 3x

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Definitions:

Marginal Cost Price

The expenditure incurred when one more unit of a product or service is produced.

Quantity

The amount or number of a product or service that is available or demanded in the market.

Economic Profits

The gap between a company's overall income and its combined direct and indirect expenses.

Long Run

A period where all inputs or factors of production can be varied by firms, allowing for the adjustment to changes in the market.