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AVERAGE ANNUAL SALARY The average salaries (in millions of dollars) of Major League Baseball players from 2000 through 2007 are shown in the scatter plot. Find the equation of the line that you think best fits these data. (Let $y$ represent the average salary and let $t$ represent the year, with $t=0$ corresponding to 2000.) (Source: Major League Baseball Players Association)

$y=\frac{7}{60} x+\frac{119}{60}$

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Oregon State University

Harvey Mudd College

Numerade Educator

University of Michigan - Ann Arbor

So here's a rough sketch of the graph, and we want to draw a line of best fit, so we have to kind of eyeball it. And if you can, you use a ruler and then you want to make a line that looks like it's going through the middle of your data, kind of some points above in some points below. Once you have that line drawn, what you can do is identify a couple of points up ball on the line, even if they're not actual data points. So, for example, this point falls nicely on the line. That's the 0.0.2 comma 2.2 and let's see if we have another one. How about this one Here is pretty good. That looks like five 2.5. We'll go with that. Now we can calculate the slope, and that would be 2.5 minus two point 2/5 minus three, and that would be point 3/2. And let's calculate what that is. As a decimal, it's about 0.0.15 or is 0.15 Okay, so what we want to do now is find the rest of the equation of the line. And if we look at the graph, we can see that the Y intercept is right around 1.95 So putting those two pieces of information together we have the equation. Y equals 20.15 times T plus 1.95