The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5...


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The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5<br>years that have elapsed since the new management team took over.<br>Year, x<br>1<br>2<br>3<br>4<br>5<br>Net Sales, y<br>428<br>442<br>455<br>463<br>474<br>(The first year the firm operated under the new management corresponds to the time period x = 1, and the four subsequent years correspond to x = 2, 3, 4, and 5.)<br>(a) Determine the equation of the least-squares line for these data.<br>y = 11.3x + 418.5<br>(b) Draw a scatter diagram and the least-squares line for these data.<br>y<br>y<br>500-<br>500-<br>480<br>480<br>460-<br>460<br>440<br>440<br>420<br>420<br>2<br>3<br>4.<br>6<br>3<br>4<br>5<br>y<br>y<br>500|<br>500-<br>480<br>480<br>460<br>460<br>440<br>440<br>420<br>420<br>X<br>1<br>3<br>6<br>1<br>2<br>3<br>4<br>(c) Use the result obtained in part (a) to predict the net sales for the upcoming year.<br>

Extracted text: The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5 years that have elapsed since the new management team took over. Year, x 1 2 3 4 5 Net Sales, y 428 442 455 463 474 (The first year the firm operated under the new management corresponds to the time period x = 1, and the four subsequent years correspond to x = 2, 3, 4, and 5.) (a) Determine the equation of the least-squares line for these data. y = 11.3x + 418.5 (b) Draw a scatter diagram and the least-squares line for these data. y y 500- 500- 480 480 460- 460 440 440 420 420 2 3 4. 6 3 4 5 y y 500| 500- 480 480 460 460 440 440 420 420 X 1 3 6 1 2 3 4 (c) Use the result obtained in part (a) to predict the net sales for the upcoming year.

Jun 02, 2022
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