Question

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 the value of \(x\) into the equation

Given the equation \(y = 3.48x+0.76\) and \(x = 1.5\) (since the ingredient cost \(x = 1.50\) dollars).
Substitute \(x = 1.5\) into the equation: \(y=3.48\times1.5 + 0.76\).

Step2: Calculate the product

First, calculate \(3.48\times1.5\).
\(3.48\times1.5=(3 + 0.48)\times1.5=3\times1.5+0.48\times1.5 = 4.5+0.72=5.22\).

Step3: Calculate the sum

Now, add \(0.76\) to the result of the previous step.
\(y=5.22 + 0.76\).
\(y = 5.98\).

Answer:

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