Explanation:
To determine the slope and y-intercept of the equation, let us plot the coordinates in the slope-intercept form.
Analyzing the graph, some of the points that are on the straight line is (1,0),(3,5), (9,20)
Let us consider the points (1,0),(3,5) to determine the slope.
Since, the profit is earned in thousands of dollars, m = 2.5 or m = 2500
Thus, slope = 2500
To determine the y- intercept, let us substitute any one of the coordinate from the graph.
Thus, let us substitute (1,0) in the equation to determine the y-intercept.
Simplifying, we have,
Hence, the line of best fit equation is
