Tell what each of the residual plots below indicates about the appropriateness of the linear model
1 answer:
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<h3><u>Solution: </u></h3>
Overall<u> </u>CP of each fan = ₹1200 .
One is sold at a loss of 5% .
- ( This means if CP is ₹100, SP is ₹95 ) .
• Therefore,When CP is ₹1200 , Then SP is ₹ 1140.
Also,Second fan is sold at a profit of 10% .
- It means , If CP is ₹100 , SP is ₹110.
Therefore , When CP is ₹1200 , Then SP is ₹1320.
<u>• We need to find the combined CP and SP to say whether there was an overall profit or Loss.</u><u>.</u>
- Total CP = ₹ 1200 + ₹ 1200 = ₹ 2400.
- Total SP = ₹ 1140 + ₹ 1320 = ₹ 2460.
Since total SP > total CP , A profit of ₹ ( 2460 - 2400 ) or ₹60 has been made ..
<h3>Hope this helps you :)</h3>