Question

A family records the amount of total savings, in dollars, it has each year and constructs a linearº model to fit the data set. The resulting linear model has equation y = 43,517 + 5,321x where x isthe years from 2015 and y is the total savings.Fill in the blanks with the correct phrases that make the statement true.The value 5.321 represents ( blank )amount of money, in dollars, the family ( Blank )Dropdown 1the exactthe approximateDropdown 2has savings in 2015.currently has in savings.saves each year.

Answer 1

A linear model, generally, is written as:

y = mx + b

where m is the slope

b is the y-intercept

The given linear model is:

y = 43517 + 5.321x

x represents the number of years since 2015

y represents the total savings

Since x represents the number of years from 2015, the value 5.321 represents the amount of money, in dollar, saved each year from 2015.