Question

the annual profits for a company are given in the following table, where x represents the number of years since 2012, and y represents the profit in thousands of dollars. write the linear regression equation that represents this set of data, rounding all coefficients to the nearest hundredth. using this equation, find the projected profit (in thousands of dollars) for 2021, rounded to the nearest thousand dollars.

years since 2012 (x)	profits (y) (in thousands of dollars)
1	137
2	133
3	158
4	167
5	175

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answer attempt 1 out of 2

regression equation: y = 10.86x + 121.52

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Explanation:

Step1: Determine the value of x for 2021

Since x represents the number of years since 2012, for 2021, $x = 2021 - 2012=9$.

Step2: Substitute x into the regression equation

The regression equation is $y = 10.86x+121.52$. Substitute $x = 9$ into it: $y=10.86\times9 + 121.52$.
First, calculate $10.86\times9=97.74$. Then $y=97.74 + 121.52=219.26$.

Step3: Round to the nearest thousand

Rounding 219.26 to the nearest thousand gives 219.

Answer:

219