Question

The scatter plot shows the trade-in values and private-party value of 10 cars.

Answer 1

The answer is A from my best judgement of the graph provided

Answer 2

The correct option is 4.

Explanation:

The scatter plot shows the trade-in values and private-party value of 10 cars.

The equation for regression line is

`\hat{y}=1.07x+1.241` .... (1)

The slope intercept form of a line is

`y=mx+b` .... (2)

Where, m is slope and b is y-intercept.

From equation (1) and (2), we get

`m=1.07, b=1.241`

The rate of change is 1.07. It means each increase of $1 in trade-in value, the private party value increases by $1.07.

So, the each increase of $1000 in trade-in value, the private party value increases by

`\$1.07* 1000=\$1070`

Therefore the correct option is 4.