Question

The annual profits for a company are given in the following table where X represents the number of years since 2004 and Y represents the profit in thousands of dollars write the linear regression equation that represents the set of data rounding are Koi fishes to the nearest 10th using this equation find the projected profit in thousands of dollars for 2016 rounded to the nearest thousand dollars

Answer 1

To find the linear regression equation and the projected profit, we can use the given data points and equations.

Step-by-step explanation:

To find the linear regression equation, we need to use the given data points. Since the equation is a linear equation of the form y = mx + b, we can calculate the slope (m) and y-intercept (b). In this case, the slope (m) represents the change in profit with each passing year, and the y-intercept (b) represents the initial profit in 2004.

Given the equation y - 0.48y = 1940, we can simplify it as 0.52y = 1940. Dividing both sides by 0.52, we get y = 3730. Therefore, the linear regression equation for this data set is y = 3730x + b, where x represents the number of years since 2004.

To find the projected profit for 2016, we need to substitute x = 2016 - 2004 = 12 into the equation. Plugging in the value, we get y = 3730(12) + b. Since we don't have the y-intercept, we can't determine the exact value for 2016. We would need additional information to find the projected profit for that year.