Fitting Linear Models to Data · Exercise 43

Consider this scenario: The profit of a company decreased steadily over a ten-year span. The following ordered pairs show dollars and 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:

$\left(\text{46},\text{25}0\right),\left(\text{48},\text{225}\right),\left(50,\text{2}05\right),\left(\text{52},\text{18}0\right),\left(\text{54},\text{165}\right).$

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 43