I'm trying to graph a set of points with data, and I have been given the equation for the best fit line, but when I graph it, the line doesn't match up with the data. It's either too steep or too low. I think it has to do with my intervals for the x and y axes.
On the x axis, I go by intervals of .2 for every 2 boxes and on the y-axis, I go by regular intervals of 1. Is this the reason for error? It's hard to figure out what intervals I should use because I have a lot of decimals in my axis and a large range (1-30) for my y axis.
Using the best-fit line below for prediction, answer the following questions:
a) What would you predict the price of Product X in volume of 150 to be (approximately)?
b) What would you predict the price of Product X in volume of 100 to be (approximately)?
When graphing points, it's important to choose appropriate intervals for both the x and y axes to ensure your data is accurately represented. The intervals you choose can affect the shape and alignment of the graphed line. Let's discuss how to choose intervals that work well for your situation.
For the x-axis, it seems like you've chosen intervals of 0.2 for every 2 boxes. While this may work for some data, it might not be appropriate for your case if you have a large range of x values or a lot of decimals. To determine suitable intervals for the x-axis, consider the following steps:
1. Determine the range of your x values. If your x values span from 1 to 30, it's helpful to have a visual representation that includes all these values.
2. Calculate the number of boxes or units on your graph paper available for the x-axis. This will depend on the size of your graph paper. Let's say, for example, you have 25 boxes available.
3. Divide the range of your x values (30 - 1 = 29) by the number of boxes available (25). This will give you the approximate interval between each box on the x-axis. In this case, it is 1.16.
4. Choose a feasible interval that is easy to interpret and calculate. In this case, you might choose to round the interval to 1 or 1.5 to simplify calculations.
For the y-axis, you mentioned using regular intervals of 1. This is a good choice if your data values are integers or whole numbers. However, if you have decimals or a large range like (1-30), regular intervals of 1 might result in a graph that looks compressed or stretched.
To choose suitable intervals for the y-axis, follow a similar process to the one explained for the x-axis:
1. Determine the range of your y values. In your case, it is 30-1 = 29.
2. Calculate the number of boxes or units on your graph paper available for the y-axis.
3. Divide the range of your y values by the number of boxes available. This will give you the approximate interval between each box on the y-axis. Choose a feasible interval that allows for a clear representation of your data.
Additionally, consider incorporating a grid where each small box represents a fraction or decimal value, such as 0.1, to account for the decimals in your data and ensure a more accurate representation.
By choosing appropriate intervals for both the x and y axes, you can create a graph that accurately represents your data, allowing you to determine if the best fit line aligns properly.