The average top ticket price for Broadway musicals has increased dramatically between 1975 and 2003. Year 1975 1985 1998 2000 2003 Average Ticket Price 13.56 44.93 72.96 119.14 130.07 Question a. Using the data in the table, find the linear regression equation that best fits the data. (Let x = 0 represent the number of years since 1970.) b. Predict the average top ticket price for Broadway musicals in the year 2010 if the price continues to increase at the same rate. (Let x represent the number of years since 1970.) c. Find the rate at which the price is rising.
The average top ticket price for Broadway musicals has increased dramatically between 1975 and 2003. Year 1975 1985 1998 2000 2003 Average Ticket Price 13.56 44.93 72.96 119.14 130.07 Question a. Using the data in the table, find the linear regression equation that best fits the data. (Let x = 0 represent the number of years since 1970.) b. Predict the average top ticket price for Broadway musicals in the year 2010 if the price continues to increase at the same rate. (Let x represent the number of years since 1970.) c. Find the rate at which the price is rising.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
Related questions
Question
The average top ticket price for Broadway musicals has increased dramatically between 1975 and 2003.
|
Year
|
1975
|
1985
|
1998
|
2000
|
2003
|
|
Average Ticket Price
|
13.56
|
44.93
|
72.96
|
119.14
|
130.07
|
Question
a. Using the data in the table, find the linear regression equation that best fits the data. (Let x = 0 represent the number of years since 1970.)
b. Predict the average top ticket price for Broadway musicals in the year 2010 if the price continues to increase at the same rate. (Let x represent the number of years since 1970.)
c. Find the rate at which the price is rising.
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