Question

food markup
the scatter plot shows the sale price of several food items, y, and the cost of the ingredients used to produce those items, x, as well as a line that models the data. the line is also represented by the equation y = 3.48x + 0.76.
what is the predicted sale price of an item that has ingredients that cost $1.50?
5.98
explain or show your reasoning.

Explanation:

Step1: Identify the formula

The formula for the line of best - fit is $y = 3.48x+0.76$, where $y$ is the sale price and $x$ is the ingredient cost.

Step2: Substitute the value of $x$

We are given that $x = 1.50$. Substitute $x = 1.50$ into the formula: $y=3.48\times1.50 + 0.76$.

Step3: Calculate the product

First, calculate $3.48\times1.50=5.22$.

Step4: Calculate the sum

Then, calculate $5.22 + 0.76=5.98$.

Answer:

$5.98$