A manager wishes to predict the annual cost (y)of an automobile based on the number of miles (x)driven.The following model was developed: ŷ = 2,000 + 0.42x.If a car is driven 30,000 miles, the predicted cost is _____________.
A)10,400
B)14,600
C)2,000
D)32,000
E)10,250

Question

Quizplus · Accepted Answer

The predicted cost is calculated by substituting x = 30,000 into the model: ŷ = 2,000 + 0.42(30,000) = 2,000 + 12,600 = 14,600.

A Manager Wishes to Predict the Annual Cost (Y)of an Automobile