What is the slope mean in context of the problem? Y-intercept?Imagine in a table. also ignore the random numbers after 3.4 (they are the 40,50, etc.) Age (x) - 30,40,50,60,70 Percent of Budget...

What is the slope mean in context of the problem? Y-intercept?

Imagine in a table. also ignore the random numbers after 3.4 (they are the 40,50, etc.)

Age

(x) - 30,40,50,60,70

Percent of Budget Spent on Entertainment(y)- 6.1, 6.0, 5.4, 4.7, 3.4

30

40

50

60

70

 

 

1 Answer | Add Yours

embizze's profile pic

embizze | High School Teacher | (Level 1) Educator Emeritus

Posted on

The equation of the line of best fit is of the form y=mx+b.

A graphing utility gives the line of best fit as y=-.067x+8.47

Here the slope is -.067 and indicates that the percentage spent on entertainment drops about 2/3 of a percent per decade, or .067 percent per year.

The y-intercept is an extrapolation indicating that we start out life averaging 8.47% spent on entertainment. This is probably meaningless, as infants do not budget.

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