4.- The following table gives the total sales (revenue) and profits of 8 retailers •Total sales and revenues for 8 retailers Company Total sales Profits (millions of $) (millions of $) Adams 9.5 0.5 Browns 22.0 1.4 Clay 35.0 1.8 Domers 64.0 3.0 Esters 27.5 0.9 Framer 45.0 2.6 Gillies 15.0 0.8 Hays 57.0 2.2 Let p be the revenue of profits for 8 retailers at t total sales. A reasonable model is p = 0.04t +0.17 Construct a scatterplot. a) d) Direction: What does it mean in this situation? c) [ What is the p-intercept? What does it mean in this situation? C.₁ Use the model to estimate revenue of profits for a company with total sales of $55.5 million. Did you perform interpolation or extrapolation?
4.- The following table gives the total sales (revenue) and profits of 8 retailers •Total sales and revenues for 8 retailers Company Total sales Profits (millions of $) (millions of $) Adams 9.5 0.5 Browns 22.0 1.4 Clay 35.0 1.8 Domers 64.0 3.0 Esters 27.5 0.9 Framer 45.0 2.6 Gillies 15.0 0.8 Hays 57.0 2.2 Let p be the revenue of profits for 8 retailers at t total sales. A reasonable model is p = 0.04t +0.17 Construct a scatterplot. a) d) Direction: What does it mean in this situation? c) [ What is the p-intercept? What does it mean in this situation? C.₁ Use the model to estimate revenue of profits for a company with total sales of $55.5 million. Did you perform interpolation or extrapolation?
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Transcribed Image Text:### Total Sales and Profits for 8 Retailers
The following table gives the total sales (revenue) and profits of 8 retailers:
| Company | Total Sales (millions of $) | Profits (millions of $) |
|---------|-------------------------------|--------------------------|
| Adams | 9.5 | 0.5 |
| Browns | 22.0 | 1.4 |
| Clay | 35.0 | 1.8 |
| Domers | 64.0 | 3.0 |
| Esters | 27.5 | 0.9 |
| Framer | 45.0 | 2.6 |
| Gillies | 15.0 | 0.8 |
| Hays | 57.0 | 2.2 |
Let \( p \) be the revenue of profits for 8 retailers at \( t \) total sales. A reasonable model is \( p = 0.04t + 0.17 \).
### Questions
**a) Construct a scatterplot.**
*A diagrammatic section with an empty Cartesian coordinate system is provided for scatterplot construction.*
**d) Direction:**
What does it mean in this situation?
**c) What is the p-intercept? What does it mean in this situation?**
**c\(_1\)** Use the model to estimate revenue of profits for a company with total sales of $55.5 million. Did you perform interpolation or extrapolation?
---
### Explanation of Graphs and Diagrams
**Constructing the Scatterplot:**
A scatterplot is a graphical representation where each company’s total sales (x-axis) is plotted against its profits (y-axis). To build this plot:
1. Label the x-axis as "Total Sales (millions of $)"
2. Label the y-axis as "Profits (millions of $)"
3. Plot each of the provided data points accordingly.
**Diagram Direction and Analysis:**
- **Direction:** Examines the relationship between total sales and profits. Ideally, as total sales increase, profits should also increase. The model provided predicts this relationship, where \( p \) (profits) is a linear function of \( t \) (total sales).
**p-Intercept:**
- **p-Intercept (0.17)**
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