Other A study was conducted to investigate the relationship between the resale p

Question

Other A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and t equation of the line of best fit was determined below American automobiles. The y 180.5-20.36x (a) Find the resale value in dollars of such a car when it is 3 years old (b) Find the resale value in dollars of such a car when it is 6 years old. (c) What is the average annual decrease in the resale price in dollars of these cars? Need Help? itTilk to a Tutor 20. -3 points JKEStart1 3E.D67 My Notes A You The Federal Highway Administration annually reports on state motor-fuel taxes. Based on the latest report, in thousands of dollars, the amount of receipts can be estimated using the given equation. Receipts -5220 + 0.9742 Collections (a) If a state collected $500,000, what would you estimate the receipts to be in dollars? (b) If a state collected $1,000,000, what would you estimate the receipts to be in dollars?

Explanation / Answer

Question 19

HEre

y^ = 180.5 - 20.36x

(a) Here x = 3

y^ = 180.5 - 20.36 * 3 = 119.42 = $ 11942

(b) for x = 6

y^ = 180.50 - 20.36 * 6 = 58.36 = $ 5836

(c)

Averaeg annualdecrease in resale value is $ 2036 .

Question 20

Recipts = -5220 + 0.9742 * calculations

(a) here x = $ 500,000 or in 500 thousand dollars

y^ = -5220 + 0.9742 * 500000 = $ 481,880

(b) x = $ 1,000,000

y^ = -5220 + 0.9742 * 1000000 = $ 968980

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