Mr. Ford wants to better understand the value of used cars over time. He reviewed some used-car ads and recorded the relationship between age and price in a table. Finally, he
calculated a line of best fit.
Used cars
Age in years (x) 3 6 4
2
6
Price (y) $15,000 $8,000 $12,000 $5,000 $19,000 $10,000
The equation for the line of best fit is y = -2,200x + 22,000.
Based on the equation, what estimates can you make about the used cars Mr. Ford reviewed?
Select all that apply.
They are worth roughly $2,200 less now than when they were new:
They likely had an average price around $22,000 when new.
They typically lose $2,200 of value per year.
At 5 years old, they had an average value of around $11,000.