Answer:
Explained below.
Step-by-step explanation:
The regression equation to predict amount of precipitation (in inches) in July from the average high temperatures (in degrees Fahrenheit) in July is as follows:
PRECIP = 2.0481 + 0.0067 HIGH
(1)
The value of the slope of the regression line is, 0.0067.
(2)
The predictor variable in this context is the average high temperatures (in degrees Fahrenheit) in July.
(3)
The response variable in this context is the amount of precipitation (in inches) in July.
(4)
The slope of a regression line is average rate of change in the dependent variable with one unit change in the independent variable.
The slope here is 0.0067.
This value implies that the average rate of change in the amount of precipitation (in inches) in July increases by 0.0067 inches with every 1°F increase in the average high temperatures.
(5)
Compute the mount of precipitation for a city that has an average high temperature in July of 87.31°F as follows:
PRECIP = 2.0481 + 0.0067 HIGH
= 2.0481 + 0.0067 × 87.31°F
= 2.633077
≈ 2.63 inches.
If you don't double check your answers by substituting them back into the original equation, you may be introducing extraneous solutions into the problem which is why you should always check to confirm your answer is accurate. I hope this helps! :)
Answer: 64 years
Step-by-step explanation:
Let assume the dealer sold the bottle now for $P, then invested that money at 5% interest. The return would be:
R1 = P(1.05)^t,
This means that after t years, the dealer would have the total amount of:
$P×1.05^t.
If the dealer prefer to wait for t years from now to sell the bottle of wine, then he will get the return of:
R2 = $P(1 + 20).
The value of t which will make both returns equal, will be;
R1 = R2.
P×1.05^t = P(1+20)
P will cancel out
1.05^t = 21
Log both sides
Log1.05^t = Log21
tLog1.05 = Log21
t = Log21/Log1.05
t = 64 years
The best time to sell the wine is therefore 64years from now.
To start this, you would multiply 5/8 by 100 because you’re looking for a percentage.
5/8 x 100 = 62.5%
