From the given scatter plot, finding a line of best fit, the estimate of the amount of prize money in year 10 of the contest is of $11,790.
How to find the equation of the line of best fit using a calculator?
To find the equation of the line of best fit, we need to insert the points (x,y) from the scatter plot in the calculator.
From the scatter plot, the points are given as follows:
(1, 9.5), (2,9), (3,7), (4,10), (5,11), (6, 10), (7, 10.5).
Inserting these points into a calculator, the line of best fit for the prize in year x is given as follows:
P(x) = 0.32143x + 8.28571
For year 10, we have that x = 10, hence:
P(10) = 0.32143(10) + 8.28571 = $11,500.
The closest option is $11,790, and the difference is due to rounding of coefficients or points in the table.
More can be learned about a line of best fit at https://brainly.com/question/22992800
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