The equation y=12.21x + 37.42 fits the scatterplot of the values for stock ABC over the past month with an r-value of 0.9871. how much do you think ABC will be worth at x=62 days?

Question

Alexandria Newton

Mathematics

18 June, 00:29

The equation y=12.21x + 37.42 fits the scatterplot of the values for stock ABC over the past month with an r-value of 0.9871. how much do you think ABC will be worth at x=62 days?

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Answers (1)

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Reagan Garrison · Answer 1

I'm pretty sure you already solved this by now, but I'll say the answer anyway. This problem has already been solved by another as a verified answer.

This is the concept of financial algebra, we are required to calculate the value of stock ABC which follows the model given by:

y=12.21x+37.42

given that x=62 days,

the value of th estock after 62 days will be given by:

y=12.21 (62) + 37.42

y=757.02+37.42

y=794.44

ABC will be worth $794.44

I take no credit for this answer. It was solved by CastleRook.