1. Stating the problem: We have the regression equation $$\hat{y} = b_0 + b_1 x$$ where $$b_0 = 700$$ (y-intercept) and $$b_1 = -50$$ (slope). We need to find the predicted value $$\hat{y}$$ when $$x = 3$$. 2. Substitute the values into the regression equation: $$\hat{y} = 700 + (-50)(3)$$ 3. Simplify the expression: $$\hat{y} = 700 - 150$$ 4. Calculate the result: $$\hat{y} = 550$$ 5. Interpretation: The predicted value when $$x=3$$ is 550, corresponding to Option B.