Question

2 food markup
the scatter plot shows the sale price of several food items, y, and the cost of the ingredients
used to produce those items, x, as well as a line that models the data. the line is also
represented by the equation y = 3.48x + 0.76.
1 what is the predicted sale price of an item that has ingredients that cost $1.50?
explain or show your reasoning.

Explanation:

Step1: Substitute \(x = 1.50\) into the equation

Given the equation \(y=3.48x + 0.76\), substitute \(x = 1.50\). So we have \(y=3.48\times1.50+0.76\).

Step2: Calculate \(3.48\times1.50\)

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$$

Step3: Calculate \(y\)

Now substitute the result of \(3.48\times1.50\) into \(y = 3.48\times1.50+0.76\). So \(y=5.22 + 0.76\).

$$y=5.98$$

Answer:

The predicted sale price of the item is \(\$5.98\)