food markup\nthe scatter plot shows the sale price of several food items, y, and the cost of the ingredients…

food markup\nthe scatter plot shows the sale price of several food items, y, and the cost of the ingredients used to produce those items, x, as well as a line that models the data. the line is also represented by the equation y = 3.48x + 0.76.\nwhat is the predicted sale price of an item that has ingredients that cost $1.50?\nexplain or show your reasoning.

food markup\nthe scatter plot shows the sale price of several food items, y, and the cost of the ingredients used to produce those items, x, as well as a line that models the data. the line is also represented by the equation y = 3.48x + 0.76.\nwhat is the predicted sale price of an item that has ingredients that cost $1.50?\nexplain or show your reasoning.

Answer

Explanation:

Step1: Identify the formula

The formula for the line is $y = 3.48x+0.76$, where $x$ is the ingredient - cost and $y$ is the sale price.

Step2: Substitute the value of $x$

We are given that $x = 1.50$. Substitute $x = 1.50$ into the formula: $y=3.48\times1.50 + 0.76$.

Step3: Calculate the product

First, calculate $3.48\times1.50=5.22$.

Step4: Calculate the sum

Then, calculate $y = 5.22+0.76=5.98$.

Answer:

$5.98$