Solution-Graph the points from 1998 through 2005 on a

Graph the points from 1998 through 2005 on a scatter

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Reference no: EM13582015

A store wishes to predict net profit as a function of sales for the next year. The following table gives the years 1998 to 2005.

Year	Sales (thousands of dollars)	Net Profit
1998	51	7
1999	55	9.2
2000	65	9.6
2001	82	-3
2002	75	2.5
2003	71	3.2
2004	82	-2.3
2005	81	-2.6

(a) Graph the points from 1998 through 2005 on a scatter diagram using Sales as the independent variable and Net Profit as the dependent variable.

(b) Draw the regression line on the graph you constructed in Part (a).

(c) What is the value of the coefficient of determination for this regression model? Comment on the strength of the regression line for this model.

(d) What is the predicted net profit for 2006 if sales are expected to be 105?

Reference no: EM13582015

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Graph the points from 1998 through 2005 on a scatter

Reference no: EM13582015

Reference no: EM13582015

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