The following data shows the age and income for a small number of people. $$\begin{array} { c l l l l l }
\text { Age (years) } & 24 & 32 & 39 & 54 & 60 \
\text { Incomes (\$) } & 30,000 & 34,000 & 53,000 & 72,000 & 90,000
\end{array}$$ Find the best fit straight line of this data, rounding coefficients and constants to the nearest whole number. Let x represent age and y represent income.
A) y = 1,666x - 13,842
B) y = 4,012x - 13,837
C) y = 3,288x - 13,849
D) None of the above

Question

The following data shows the age and income for a small number of people. $$\begin{array} { c l l l l l } 
\text { Age (years) } & 24 & 32 & 39 & 54 & 60 \
\text { Incomes (\$) } & 30,000 & 34,000 & 53,000 & 72,000 & 90,000
\end{array}$$ Find the best fit straight line of this data, rounding coefficients and constants to the nearest whole number. Let x represent age and y represent income.
A) y = 1,666x - 13,842
B) y = 4,012x - 13,837
C) y = 3,288x - 13,849
D) None of the above

Quizplus · Accepted Answer

The best fit line calculated using the least squares method for the given data is approximately y = 1,666x - 13,842.

The Following Data Shows the Age and Income for a Small