Answer:
The best prediction for price of ticket in 2026 is $10.31
Step-by-step explanation:
We are given the following information in the question:
The price of a movie ticket in a given year can be modeled by the regression equation.
[tex]y = 6.94(1.02)^x[/tex]
where y is the ticket price and x is the year.
We have to find the price of the ticket in year 20, where year 1 means 2007.
Putting x = 20 in the given equation, we have:
[tex]y = 6.94(1.02)^x\\y = 6.94(1.02)^{20} = \$10.31[/tex]
Thus, the best prediction for price of ticket in 2026 is $10.31
