Question

Let ŷ represent the profit (in thousands of dollars) for a certain company x years after 1960. A statistician calculates a linear model ŷ = -1.23 x + 16.07

Answer 1

Complete Question:

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Let ŷ represent the profit (in thousands of dollars) for a certain company xx years after 1960. A statistician calculates a linear model

ŷ = -1.23 x + 16.07

Use the model to estimate the profit in 1965. Your answer should be in dollars, not thousands of dollars.

Answer:

`\=y =\$9.92`

Explanation:

From the question we are told that:

Number of years
`N=1960-1965=>5years`

Linear model
`\=y = -1.23 x + 16.07`

Therefore Inputting values into the model we have

`\=y = -1.23 (5) + 16.07`

`\=y = -6.15+ 16.07`

`\=y =\$9.92`