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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 million?

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 million?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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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 million?
3. 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 Store Sales Profits 1 14 | 7 17 22 2 11 8 12 21 3 5 15 9 15 26 5 16 10 20 43 15 24 11 14 34 6 18 28 12 5 9
Transcribed Image Text:3. 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 Store Sales Profits 1 14 | 7 17 22 2 11 8 12 21 3 5 15 9 15 26 5 16 10 20 43 15 24 11 14 34 6 18 28 12 5 9
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