Question

Please help. I will medal the best response.


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

https://logospcs.owschools.com/media/g_alg01_ccss_2014/3/img_alg1u03l19_04.gif

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

Okay, what is your plan fro creating the line of "best fit"? That will have to be first.

Answer 2

I think the y-intercept will either be at -1 or 0. If it is -1 two of the coordinates would be (3,2) and (6,5) or if the y-intercept is 0 two coordinates would be (2,2) and (8,8).

But I have a feeling I am completely lost and am really wrong.

Answer 3

Example: Put x2 = 7 into Standard Form

Answer:

x2 - 7 = 0

Answer 4

y

Answer 5

Ummm. y=mx+b right?

y+1\[y=1\times7+0\]
or
\[y=1\times6+1\]

I highly doubt I am right.

Answer 6

?? Are we just supposed to guess?
The least-squares line of "Best Fit" is \(p = 0.5545m + 2.4\)

Do you have ANY idea how to obtain this line?

Answer 7

ganeshie8

Answer 8

Hero