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

question 122

Essay

Solve the problem.
-The following data represents the Olympic winning time in Women's 100 m Freestyle. $$\begin{array} { l | l l l l l l l } \text { year } & 1972 & 1976 & 1980 & 1984 & 1988 & 1992 & 1996 \\\hline \text { time } & 58.59 & 55.65 & 54.79 & 55.92 & 54.93 & 54.65 & 54.50\end{array}$$ Find the slope of the line of best fit for the data set and interpret it.

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Definitions:

Regression Output

This is the result of regression analysis, typically showing the relationship between independent variables and the dependent variable.

Cargos

Goods or commodities transported for commercial gain, typically by ship, aircraft, or other vehicles.

Cost Behaviours

The relationship between costs and changes in business activity levels, including fixed, variable, mixed, and step costs.

Cost Driver

A factor that causes a change in the cost of an activity, serving as a basis for allocating costs in activity-based costing.