Concept explainers
If the Independent variable in a line of best fit is credit score, and the dependent variable is the interest rate on a used-car loan, then the slope is interpreted as follows: “If credit score increases by 1 point, the interest rate will __________ (increase/decrease) by ________ percent, on average.”
To fill: In the blanks of the given statement.
Answer to Problem 4AYU
Solution:
Decreases
Explanation of Solution
Given:
The given statement is
“If the independent variable in a line of best fit is the credit score and the dependent variable is the interest rate on a used-car loan, then the slope is interpreted as follows: If the credit score increases by 1 point, the interest rate will ________ by ______ percent, on average.”
“If the independent variable in a line of best fit is the credit score and the dependent variable is the interest rate on a used-car loan, then the slope is interpreted as follows: If the credit score increases by 1 point, the interest rate will decreases by percent, on average.”
From the given equation, we can see that the slope of the line is negative ; therefore, the interest rate will decrease by units for each 1 unit increase in the credit score.
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