Question

The line of best fit for the Consumer Price Index (CPI), a measure of the price paid by consumers for goods and services, from 1970 to 2022 is given by the equation y = 4.6062x + 30.369 where y is the CPI and x is years after 1970. The line has a correlation coefficient of r = 0.9979. Predict the CPI for the year 2000. Round your answer to 1 decimal place.

Name: the line of best fit for the consumer price index cpi a measure of the price paid by consumers for goods and services from 1970 to 2022 is given by the equation y 46062x 30369 where y is the 64178
Uploaded: 2023-01-11T18:11:18-08:00
Duration: 1 min 36 s
Channel: Sri K
Description: the line of best fit for the consumer price index cpi a measure of the price paid by consumers for goods and services from 1970 to 2022 is given by the equation y 46062x 30369 where y is the 64178

          The line of best fit for the Consumer Price Index (CPI), a measure of the price paid by
consumers for goods and services, from 1970 to 2022 is given by the equation
y = 4.6062x + 30.369
where y is the CPI and x is years after 1970.
The line has a correlation coefficient of r = 0.9979.
Predict the CPI for the year 2000.
Round your answer to 1 decimal place.

Added by Michelle W.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Sri K

01/11/2023

Step 1

Step 1: Compute x for the year 2000 as x = 2000 − 1970 = 30. Show more…

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The line of best fit for the Consumer Price Index (CPI), a measure of the price paid by consumers for goods and services, from 1970 to 2022 is given by the equation y = 4.6062x + 30.369 where y is the CPI and x is years after 1970. The line has a correlation coefficient of r = 0.9979. Predict the CPI for the year 2000. Round your answer to 1 decimal place.