A supermarket has a chain of 12 stores in Kuwait. Sales figures and profits for the stores are given in the following table. Obtain a regression equation for the data, and predict profit for a store assuming sales of $20 million. Show all calculations in detail.                                        Sales, x (in millions of dollars) Profits, y (in millions of dollars) 7 0.12 2 0.1 6 0.13 12 0.15 14 0.25 16 0.2 10 0.24 12 0.2 14 0.27 20 0.15 7 0.34 8 0.17

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 A supermarket has a chain of 12 stores in Kuwait. Sales figures and profits for the stores are given in the following table. Obtain a regression equation for the data, and predict profit for a store assuming sales of $20 million. Show all calculations in detail.                                     

 

Sales, x (in millions of dollars)

Profits, y (in millions of dollars)

7

0.12

2

0.1

6

0.13

12

0.15

14

0.25

16

0.2

10

0.24

12

0.2

14

0.27

20

0.15

7

0.34

8

0.17

 

 

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