Write an equation for the line of best fit that models the relationship between profit in thousands, p, and time in months, m. T
hen, use your equation to predict the profit the bagel shop will earn in month 12. Round slope and y-intercept to the nearest tenth.
1 answer:
This is much easier when you use a software like MS Excel. You have to list the points first. These are: (1,3), (2,2.5), (3,4), (4,5), (5,6.5), (6,5.5), (7,7), (8,6), (9,7.5), (10,7) and (11,9).
Do a scatter plot for this points and add a trend line and you obtain the equation of the line fit. The equation is p=0.6m+2.4
We use this equation to find p when m=12.
p = (0.6×12)+2.4
p = 9.6
Total profit in month 12 would be 9.6 thousand.
Do a scatter plot for this points and add a trend line and you obtain the equation of the line fit. The equation is p=0.6m+2.4
We use this equation to find p when m=12.
p = (0.6×12)+2.4
p = 9.6
Total profit in month 12 would be 9.6 thousand.
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