Line of Best Fit Examples
Example 1: For the following data, equation of the line of best fit is y = -3.2x + 880. Find, how many people will attend the show if ticket price is $15?
|
Ticket price (x) (in $) |
12 |
15 |
18 |
20 |
|---|---|---|---|---|
|
Number of people attending (y) |
780 |
800 |
820 |
830 |
Solution:
Substitute ticket price as x = 15 into the equation of line of best fit
y = -3.2x + 880
y = -3.2 × 15 + 880 = 830
830 people will attend the show if the ticket price is $15.
Example 2: For the following data, equation of the line of best fit is y = -6.5x + 1350. Find, how many people will purchase chocolate if price of chocolate is $30?
|
Chocolate price (x) |
$25 |
$30 |
$35 |
$40 |
|---|---|---|---|---|
|
Number of people purchasing chocolate (y) |
480 |
600 |
720 |
840 |
Solution:
Substitute chocolate price as x = 30 into the equation of line of best fit
y = -6.5x + 1350
y = -6.5 × 30 + 1350 = 1155
1155 people will purchase chocolate if the price is $30.
Example 3: For the following data, equation of the line of best fit is y = -2.1x + 1220. Find, how many people will buy candy if price of candy is $10?
|
Candy price (x) |
$8 |
$10 |
$12 |
$14 |
|---|---|---|---|---|
|
Number of people buying candy (y) |
1180 |
1200 |
1220 |
1240 |
Solution:
Substitute x = 10 into the equation of line of best fit
y = -2.1x + 1220
y = -2.1 × 10 + 1220 = 1209
1209 people will buy candy if the price is $10.
Example 4: For the following data, equation of the line of best fit is y = -5.8x + 1320. Find, how many people will attend the concert show if ticket price is $25?
|
Concert ticket price (x) |
$20 |
$25 |
$30 |
$35 |
|---|---|---|---|---|
|
Number of people attending concert (y) |
660 |
500 |
340 |
180 |
Solution:
Substitute ticket price as x = 25 into the equation of line of best fit
y = -5.8x + 1320
y = -5.8 × 25 + 1320 = 1180
1180 people will attend the concert show if the ticket price is $25.
Example 5: For the following data, equation of the line of best fit is y = -3.7x + 1020. Find, how many people will buy cigarette if price is $25?
|
Cigarette price (x) |
$15 |
$18 |
$21 |
$24 |
|---|---|---|---|---|
|
Number of people purchasing cigarette (y) |
870 |
900 |
930 |
960 |
Solution:
Substitute ticket price as x = 18 into the equation of line of best fit
y = -3.7x + 1020
y = -3.7 × 18 + 1020 = 951.6
951.6 people will attend the show if the ticket price is $18.
Line of Best Fit
Line of Best Fit: A Line of best fit is a fundamental concept of statistics used to analyze the relationship between two variables. It helps predict the values of one variable based on the values of another variable(given).
Line of best fit is a straight line drawn through a scatter plot of data points that best represent their distribution by minimizing the distances between the line and these points. It results from regression analysis and serves to illustrate the relationship among the data. This line is also a predictive tool, useful for forecasting trends, such as market indicators and price movements.
In this article, we will learn about the Line of Best Fit, how to calculate the line of best fit, solved examples, and other in detail in this article.
Table of Content
- What Is a Line of Best Fit?
- Line of Best Fit in Regression
- Line of Best Fit in Statistics
- Line of Best Fit Formula
- How to Calculate the Line of Best Fit?
- Is a Line of Best Fit Always Straight?
- Where Line of Best Fit is Used?
- Line of Best Fit Examples
- Line of Best Fit – Practice Questions