Nambe Mills in Santa Fe, New Mexico, manufactures tableware made of a metal alloy. The pieces are sand casted and then shaped, ground, buffed, and polished. The table following gives the total grinding and polishing times (in minutes) for various pieces of Nambeware and their corresponding prices (in dollars).
Time | 109.38 | 16.41 | 23.77 | 13.25 | 44.25 | 64.30 | 34.16 |
Price | 260 | 39 | 49.50 | 31 | 89 | 165 | 75 |
Source: Nambe Mills.
a. Find the best-fitting linear model for price as a function of grinding and polishing time.
b. According to your model, what should be the price of a piece of Nambeware if its grinding and polishing time is 53.18 minutes?
c. Interpret the slope of your model in terms of the situation.
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