Solve the Problem. -The Average Value , V, of a Certain Type of Certain

question 1

Multiple Choice

Solve the problem.
-The average value , V, of a certain type of car is a linear function of the year, x. The average value was $14,460 in 1995 and depreciated to $6900 in 1998. Let x = 0 represent 1995. Write the value, V, as function of the year, x.

• A) V(x) = -2520x + 14,460
• B) V(x) = -2520x - 660
• C) V(x) = -2520x + 6900

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Definitions:

Least Squares Regression Line

A linear line that reduces the squared discrepancies between the actual observations and the predictions made by the line to the smallest possible sum.

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The natural light emitted by the sun, influencing weather, climate, and various biological processes.

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A type of skin cancer that develops from the pigment-containing cells known as melanocytes.

Least Squares Method

A mathematical approach used to find the best-fitting line through a set of points by minimizing the sum of the squares of the offsets (residuals) between the observed and predicted values.