the annual profits for a company are given in the following table, where x represents the number of years…

the annual profits for a company are given in the following table, where x represents the number of years since 2002, 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 hundredth. using this equation, find the projected profit (in thousands of dollars) for 2010, rounded to the nearest thousand dollars.\n\n| years since 2002 (x) | profits (y) (in thousands of dollars) |\n| ---- | ---- |\n| 0 | 135 |\n| 1 | 160 |\n| 2 | 157 |\n| 3 | 192 |\n| 4 | 192 |\n| 5 | 227 |\n\nanswer attempt 1 out of 2\n\nregression equation: y = 16.88571x + 134.95238\n\nfinal answer: thousand dollars

the annual profits for a company are given in the following table, where x represents the number of years since 2002, 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 hundredth. using this equation, find the projected profit (in thousands of dollars) for 2010, rounded to the nearest thousand dollars.\n\n| years since 2002 (x) | profits (y) (in thousands of dollars) |\n| ---- | ---- |\n| 0 | 135 |\n| 1 | 160 |\n| 2 | 157 |\n| 3 | 192 |\n| 4 | 192 |\n| 5 | 227 |\n\nanswer attempt 1 out of 2\n\nregression equation: y = 16.88571x + 134.95238\n\nfinal answer: thousand dollars

Answer

Explanation:

Step1: Determine the value of x for 2010

2010 - 2002 = 8, so x = 8.

Step2: Substitute x into the regression equation

We have the regression equation y = 16.88571x + 134.95238. Substitute x = 8 into it: y = 16.88571×8 + 134.95238 y = 135.08568+134.95238 y = 270.03806

Step3: Round to the nearest thousand

Rounding 270.03806 to the nearest thousand gives 270.

Answer:

270