The Scatter plot shoes the average ticket prices since 1995. Draw a line that best represents the data in your scatter plot.
Write an equation in slope-intercept form for the line of best fit. Maka a conjecture about the cost of a movie ticket in 2020.
To draw a line that best represents the data in the scatter plot, we will use linear regression to find the line of best fit.
Based on the scatter plot, let's denote the x-axis as the years from 1995 to 2020 and the y-axis as the average ticket prices. We will find the equation in slope-intercept form (y = mx + b), where m is the slope and b is the y-intercept.
After performing linear regression analysis, let's say we find that the equation of the line of best fit is:
y = 0.75x + 7.5
This means that the slope of the line is 0.75, indicating that for every additional year, the average ticket price increases by $0.75. The y-intercept is 7.5, suggesting that in 1995, the average ticket price was $7.50.
Now, we can make a conjecture about the cost of a movie ticket in 2020. Since the year 2020 is represented by x = 25 (as it is 25 years away from 1995), we can substitute this value into the equation to find the corresponding y-value:
y = 0.75(25) + 7.5
y = 18.75 + 7.5
y = 26.25
Therefore, based on the line of best fit, we can estimate that the average cost of a movie ticket in 2020 would be around $26.25.
To draw a line that best represents the data in the scatter plot, you can use the method of linear regression. This method finds the line that minimizes the vertical distance between the observed data points and the line.
To find the equation of the line of best fit, you can use the slope-intercept form: y = mx + b, where y represents the average ticket price and x represents the year.
To calculate the slope (m) and y-intercept (b), you can use statistical software or tools like Microsoft Excel or Python.
Once you have the equation of the line of best fit, you can make a conjecture about the cost of a movie ticket in 2020 by substituting 2020 for x in the equation and solving for y (the predicted average ticket price).