A company determines an employee's starting salary according to the number of years of experience, as detailed in the table. Years of experience salary 0 $40,000 1 $42,150 2 $44,260 3 $46,785 4 $48,820 5 $51,126 use the equation for the line of best fit to predict the salary for an employee with 7 years of experience? (round your answer to the nearest dollar. ) $52,900 $53,340 $53,914 $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.

What is the equation of best fit?

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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