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to show over time the bls starts its data with a baseline price of 100 in january 2006. a linear regression model on this data with y and x as a number of years since 2006 is. y=6.29x+100.97. what price does this model predict on 1/01/2021

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28jstinebaugh

Answer:

To predict the price on 1/01/2021 using the linear regression model y=6.29x+100.97, where x represents the number of years since 2006, we need to calculate the value of y when x is 15.

Since 1/01/2021 is 15 years after January 2006, we substitute x=15 into the equation:

y = 6.29(15) + 100.97

Now we can calculate the value:

y = 94.35 + 100.97

y = 195.32

Therefore, the predicted price according to the linear regression model on 1/01/2021 is 195.32

Step-by-step explanation:

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