Answer:
#1) y = 937.976x + 12764.90; #2) $12764.90; #3) $31524.42; #4) The cost increases by about $937.98 per year; #5) Invest money into some sort of savings account before graduation, apply for multiple scholarships; post-graduation, attend classes for certifications or continue to study your chosen field.
Step-by-step explanation:
#1) Using Desmos, the data goes into a table. The x-values will range from 3 to 10; this is because we are concerned with the years since 2000, and 2003 is 3 years since 2000.
We then enter y_1~mx_1+b into Desmos to run the linear regression. When we do, we get the value of the slope, m, is 937.976 and the value of the y-intercept, b, is 12764.90.
#2) The y-intercept is where the x-coordinate is 0. This will be the year 2000. The y-intercept of this equation is $12764.90; this means this is the cost of tuition for the year 2000.
#3) To find the tuition in the year 2020, which is 20 years since 2000, we substitute 20 into our regression equation:
y = 937.976(20)+12764.90 = $31524.42
#4) Slope is the rate of change of a line. It describes how the y-values change for every increase in the x-values.
In this problem, the y-coordinate represents the cost of tuition and the x-coordinate represents the number of years since 2000.
The slope then represents the change in tuition per year. This means the tuition rises by about $937.98 per year.
#5) In order to reduce out-of-pocket costs, it is wise to start saving before graduation from high school. In addition, scholarships help to reduce cost.
