Let ŷ represent the profit (in thousands of dollars) for a certain company xx years after...
Let ŷ represent the profit (in thousands of dollars) for a certain company xx years after 1965. A statistician calculates a linear model
ŷ = 0.74xx + 4
Use the model to estimate the profit in 1975. Your answer should be
in dollars, not thousands of dollars.
Profit =$
Homework Answers
We have given,
ŷ = 0.74*x + 4
Substitute x=1975
=> ŷ = 0.74*(1975) + 4
=1465.5
| Profit =$ 1465.5 |
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