the table shows the number of years since 1995 and the price of milk.

Question

1;2.62$ give an equation that represents the relationship between the years,t, since

3;2.70$ 1995 and the price of milk, P(t). Round each value in the equation to the nearest

5;2.78$ hundredth.

6;2.88$

9;3.15$

12;3.40$

14;3.30$

16;3.57$

What does the slope mean in the context of this problem?

What does that y-intercept mean in the context of this problem?

Interpret the correlation coefficient for the data in the table.

Using the line of best fit, approximate the price of a gallon of milk in the year 2010.

Is this an example of extrapolation or interpolation. (One of my students created this and want you guys to try it!)

Answer 1

ŷ = 0.06423X + 2.52014

starting with $2.54 in 1995 the price goes up an average of 6.4 cents per year