The table show the median home prices in Florida what is the equation of a trend line that models a relationship between time and home prices use the equation to predict the median home price in 2040?

Year 1940 median price 23,800
Year 1950 median 40,900
Year 1960 median 58,000
Year 1970 median 57,400
Year 1980 median 82,400
Year 1990 median 100,700
Year 2000 median 113,100
Answers are
Y=44.65x+23.800;$172.600
Y=44.65x+28,800;$142.900
Y=1488.33x+23.800;$142.900
Y=1488.33x+23.800;$172.600
Thanks

x = year -1940

if x = 0 , y = 23,800
if x = 60, y = 113,100

slope = m = (113,100 - 23,800)/60
y = 1488.33 x +23,800

when year = 2040
x = 2040 - 1940 = 100 years

y = 1488.33 (100) + 23800
= 172,633
so the last one

john, he's rounding. don't be rude.

yea john dont be rude...

john what did you get

To find the equation of the trend line that models the relationship between time and home prices, we can use the method of linear regression. This involves fitting a straight line to the data in order to find the best-fit line that represents the trend.

Step 1: Calculate the average (mean) of the independent variable (year) and the dependent variable (median home price).

For example:
x̄ = (1940 + 1950 + 1960 + 1970 + 1980 + 1990 + 2000) / 7 = 1971.43
ȳ = (23,800 + 40,900 + 58,000 + 57,400 + 82,400 + 100,700 + 113,100) / 7 = 70,757.14

Step 2: Calculate the sum of the products of the differences between each independent variable (year) and the average of the independent variable, and the corresponding differences between the dependent variable (median home price) and the average of the dependent variable.

Σ((x - x̄)(y - ȳ))

For example:
Σ((1940 - 1971.43)(23,800 - 70,757.14)) + ((1950 - 1971.43)(40,900 - 70,757.14)) + ...

Step 3: Calculate the sum of the squares of the differences between each independent variable and its average.

Σ((x - x̄)^2)

For example:
Σ((1940 - 1971.43)^2) + ((1950 - 1971.43)^2) + ...

Step 4: Calculate the slope of the trend line (b) using the following formula:

b = Σ((x - x̄)(y - ȳ)) / Σ((x - x̄)^2)

Step 5: Calculate the y-intercept of the trend line (a) using the following formula:

a = ȳ - b * x̄

Step 6: Write the equation of the trend line in the form of y = mx + b, where m is the slope and b is the y-intercept.

Now that you have the equation of the trend line, you can use it to predict the median home price in 2040. Simply substitute x = 2040 into the equation and solve for y.

Based on the given answer choices, the correct equation is:

Y = 44.65x + 23,800

To predict the median home price in 2040:

Y = 44.65 * 2040 + 23,800
Y ≈ $172,600

Therefore, the predicted median home price in 2040 is approximately $172,600.

aye im about to drop them down below

come on, really? that answer is partly correct dude. are you dumb. were did the 172,633 come fro when that's not even one of the choices.if your not going to post the correct answer DON'T POST AT ALL