Use linear equation to fit given data

Assignment Help Mathematics

Reference no: EM13124190

Find the slope of the line shown and interpret the slope as a rate of change given the following information. I am supposed to present this in business terms using Exxon Mobile as the example and using the mathematical concept of slope and rate of change. After submitting this question earlier I am not sure the answer is what I need. I know that the formula for slope is

m= slope = rise/run = change in y-coordinate/change in x-coordinate. I would like to re-address this.

The information and previous answer is as follows:

Year Revenue(Million Dollars)

2005 358955

2006 365467

2007 390328

2008 459579

2009 301500

The equation of the least square line for Revenue (in million dollars) (y) versus Year (x) is given as follows: y=32673.3x - 65165394.2

(a) The slope of the line is given as 32673.3.

(b) The rate of change of Revenue (in million dollars) per Year is given as 32673.3.

The positive sign of the slope indicates a direct relationship between Revenue (in million dollars) and Year. In other words, Revenue (in million dollars) increases by a factor of 32673.3 per year.

Reference no: EM13124190

Questions Cloud

Invent a new word that follows english rules of morphologhy : Invent a new word that follows the English rules of morphology and word formation, but is not currently in the dictionary. Explain why your word follows the morphological rules of English. Discuss the role of morphology in language creativity and how..

Prove that any two universal initial objects in a category : Prove that any two universal (initial) objects in a category C are equivalent. Prove that any two couniversal (terminal) objects in a category C are equivalent.

Calculate the temperature : The normal boiling point of ether is 307.8 K. Calculate the temperature at which its vapor pressure is exactly half of that at its normal boiling point.

What researcher do to decrease width of confidence interval : From these statistics she calculates a 90% confidence interval of [20.9 grams, 25.1 grams]. What can the researcher do to decrease the width of the confidence interval?

Use linear equation to fit given data : Find the slope of the line shown and interpret the slope as a rate of change given the following information. I am supposed to present this in business terms using Exxon Mobile as the example and using the mathematical concept of slope and rate of..

Cash register tape for leprechaun industries : The cash register tape for Leprechaun Industries reported sales of $7,783.12. Record the journal entry that would be necessary for each of the following situations: (a) Cash to be accounted for exceeds cash on hand by $52.60.

What is the molar mass of (nh4)2so4 : A solution is made by dissolving 26.44 g of (NH4)2SO4 in enough H2O to make 50.75 mL of solution.What is the molar mass of (NH4)2SO4?

Tropical pools sells an aboveground model for p dollars : Demand for pools. Tropical Pools sells an aboveground model for p dollars each. The monthly revenue for this model is given by the formula R(p)=0.08p2 +300p.

Total production will increase at a diminishing rate : The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.

User Account

All Pages