Question

The scatter plot below shows the amount of profit earned per month by a bagel shop over a period of 11months.



Write an equation for the line of best fit that models the relationship between profit in thousands, p, and time in months, m. Then, use your equation to predict the profit the bagel shop will earn in month 12. Round slope and y-intercept to the nearest tenth.

Answer 1

depending on how many points there are, you can do it by hand or organize it in excel

essentially your finding the average X and Y value for a point

and the slope is determined as:\[m=\frac{n\sum xy-\sum x\sum y}{n\sum xx-\sum x\sum x}\]

Answer 2

there are 11 point! :D

Answer 3

11 points are doable by hand, or at least with a simple calculator to determine the parts with

Answer 4

sum of xs, sum of ys, sum of x^2, sum of xy