A trend line is a line that approximates the relationship between the variables or data sets of a scatter plot. Remember that the trend line may vary for each person based where they decided to draw their line of fit. Let's sketch it!
To write the equation of the line, we should first determine its slope. Therefore, we will choose two points on the line. Looking at the graph, we can choose the points (4000,3516) and (6400,5940). Let's use the Slope Formula!
Now that we know the slope of the line and a point that it passes through, we can write the equation in the point-slope form. Let (6400,5940) be our reference point.
y-y_1=m(x-x_1)
⇕ [0.5em]
y-5940=1.01(x-6400)
By isolating y, we can rewrite the equation in slope-intercept form to make it a bit easier to understand.
We have been told that Ohio spent $5142 per capita during the year. Let's substitute 5142 for y into the equation and solve it for x to find Ohio's revenue.
