Fitting Linear Models to Data · Exercise 41

Consider this scenario: The profit of a company increased steadily over a ten-year span. The following ordered pairs show the number of units sold in hundreds and the profit in thousands of dollars over the ten year span, (number of units sold, profit) for specific recorded years:

$\left(\text{46},\text{25}0\right),\left(\text{48},\text{3}05\right),\left(50,\text{35}0\right),\left(\text{52},\text{39}0\right),\left(\text{54},\text{41}0\right).$

Use linear regression to determine a function y, where the profit in thousands of dollars depends on the number of units sold in hundreds.

OpenStax, Algebra and Trigonometry 2e · §4.3 Fitting Linear Models to Data · Exercise 41