Based on data taken from airline fares and distances flown, it is determined that the equation of the least-squares regression line is hat y is equal to 102 point 5 0 plus 0 point 6 5 x , where start set hat y end set is the predicted fare and x is the distance, in miles. One of the flights was 500 miles and its residual was 115 point 0 0 What was the fare for this flight?
For a 500-mile flight, the predicted fare is 102.50 + 0.65(500) = $427.50. A residual equals the actual fare minus the predicted fare, so the actual fare is $427.50 + $115.00 = $542.50. The fare was $542.50, choice B.
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