[Table]A real-estate agent is trying to determine the relationship between the distance a 3-bedroom home is from New York City and its average selling price. He records the data for 6 homes shown below.Linear or Quadratic?Equation:Approximate cost of home 90 miles from NYC?

Efan Halliday 2021-02-09 Answered
A real-estate agent is trying to determine the relationship between the distance a 3-bedroom home is from New York City and its average selling price. He records the data for 6 homes shown below. Linear or Quadratic? Equation: Approximate cost of home 90 miles from NYC?
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berggansS
Answered 2021-02-10 Author has 91 answers

Input the x-values under L1 in a graphing calculator and the yy-values, in thousands, under L2 (for example, input 755,000 as 755). Then graph the scatterplot to determine if it's linear or quadratic:

The points approximately lie on a straight line so the data is linear.
Use the LinReg feature on your graphing calculator to find the values of aa and bb for the line of best fit:

Since a4.3 and b795.6, the equation is y=4.3x+795.6.
If a home is x=90 miles from NYC, then y=4.3(90)+795.6=408.6409 (round to the nearest whole number since the costs in the table are rounded to the nearest thousand). The cost of the home is then about $409,000

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