The following table shows retail sales in drug stores in billions of dollars in the U.S. for years since 1995.YearRetail Sales85.8513108.426141.7819169.25612202.29715222.266Let S(t) be the retails sales in billions of dollars in t years since 1995. A linear model for the data isF(t) = 9.44t + 84.182.220-2102001901801701601501401301201101009039128046, Estimate the retails sales in the U. S. in 2013.billions of dollars.Use the model to predict the year that corresponds to retails sales of $240 billion.

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Estimate the retails sales in the U. S. in 2013. billions of dollars. Use the model to predict the year that corresponds to retails sales of $240 billion.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

The following table shows retail sales in drug stores in billions of dollars in the U.S. for years since 1995.
Year
Retail Sales
85.851
3
108.426
141.781
9
169.256
12
202.297
15
222.266
Let S(t) be the retails sales in billions of dollars in t years since 1995. A linear model for the data is
F(t) = 9.44t + 84.182.
220-
210
200
190
180
170
160
150
140
130
120
110
100
90
3
9
12
804
6,

Estimate the retails sales in the U. S. in 2013.
billions of dollars.
Use the model to predict the year that corresponds to retails sales of $240 billion.

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