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The annual profits for a company are given in the following table, where x represents
the number of years since 2012, and y represents the profit in thousands of dollars.
Write the linear regression equation that represents this set of data, rounding all
coefficients to the nearest tenth. Using this equation, estimate the calendar year in
which the profits would reach 420 thousand dollars.

The annual profits for a company are given in the following table where x represents the number of years since 2012 and y represents the profit in thousands of class=


Answer :

Using a calculator, the linear regression equation that represents this set of data is:

y = 16.3x + 119.

Using the equation, profits would reach 420 thousand dollars during the year of 2030.

How to find the equation of linear regression using a calculator?

To find the equation, we need to insert the points (x,y) in the calculator.

For this problem, the points are given by:

(0, 113), (1, 142), (2, 162), (3, 161), (4, 171), (5,210).

Inserting these points into the calculator, the equation is:

y = 16.3x + 119.

The year it would reach 420 thousand dollars is x years after 2012, considering that y = 420, hence:

420 = 16.3x + 119

16.3x = 301.

x = 301/16.3

x = 18.47.

2012 + 18.47 = 2030.47, hence profits would reach 420 thousand dollars during the year of 2030.

More can be learned about a line of best fit at https://brainly.com/question/22992800

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