SOLUTION: the prediction y=5.92x+119.21 models that median selling price in thousands of dollars of new homes in a certian area since 1995 predict the median selling price in 2015

Question 177342This question is from textbook
: the prediction y=5.92x+119.21 models that median selling price in thousands of dollars of new homes in a certian area since 1995 predict the median selling price in 2015 This question is from textbook

Found 2 solutions by gonzo, Mathtut:
Answer by gonzo(654) (Show Source): You can put this solution on YOUR website!
the equation is:
y = 5.92*x + 119.21
when the year is 1995, x = 1995 - 1995 = 0, and the price of a home is 119.21.
when the year is 2015, x = 2015 - 1995 = 20.
your equation for the year 2015 is:
y = 5.92*20 + 119.21 = 118.4 + 119.21 = 237.61

Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
y=5.92x+119.21
:
so we plug 20 in for x and solve for y (2015-1995)
:
y=5.92(20)+119.21=118.4+119.21=237.61
:
and since these numbers are in 1000's
:
237.61(1000)=$237,610 will be the median selling price in 2015
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