Arnold Tofu owns and operates a chain of 12 vegetable protein “hamburger” restaurants in northern Chicago area. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? 30 millions? StoreSalesProfits161423113515451651524618287172281221915261020431114341259

An estimate of the line that depicts the actual but unidentified linear connection between the two…

Answered: Arnold Tofu owns and operates a chain…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Arnold Tofu owns and operates a chain of 12 vegetable protein “hamburger” restaurants in northern Chicago area. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? 30 millions?

Store	Sales	Profits
1	6	14
2	3	11
3	5	15
4	5	16
5	15	24
6	18	28
7	17	22
8	12	21
9	15	26
10	20	43
11	14	34
12	5	9

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