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The wage for a worker with 7 years of experience may be calculated using the equation for the line of best fit as follows: D. $55,573.
A trend line, also known as a line of best fit, is a statistical (analytical) technique that is used with a scatter plot to ascertain whether or not there is any link (correlation) between a set of data.
In this case, the pay would be placed on the y-axis of the scatter plot and the employee's years of experience would be put on the x-axis.
A line of best fit can be described by the equation y=mx+b, where m denotes the slope and b the y-intercept. To comprehend the idea of how to roughly approximate the equation of a line of best fit and make predictions, we will look at two examples that show a scatter plot with a line of best fit.
We may rationally and logically conclude that the equation for the line of best fit is given by: by carefully examining the scatter plot that models the data in the provided table (see attachment).
y = 2233.3x + 39940
The wage for an employee with seven years of experience would thus be predicted using the equation for the line of best fit as follows:
y = 2233.3(7) + 39940
y = 15,633.1 + 39940
y = 55,573.1 ≈ $55,573.
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