Complete Question:
Flag
Let ŷ represent the profit (in thousands of dollars) for a certain company xx years after 1960. A statistician calculates a linear model
ŷ = -1.23 x + 16.07
Use the model to estimate the profit in 1965. Your answer should be in dollars, not thousands of dollars.
Answer:
[tex]\=y =\$9.92[/tex]
Step-by-step explanation:
From the question we are told that:
Number of years [tex]N=1960-1965=>5years[/tex]
Linear model [tex]\=y = -1.23 x + 16.07[/tex]
Therefore Inputting values into the model we have
[tex]\=y = -1.23 (5) + 16.07[/tex]
[tex]\=y = -6.15+ 16.07[/tex]
[tex]\=y =\$9.92[/tex]
