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The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 410 55 a) Create a scatter plot of the data. Identify any outliers, if they occur. b) Sketch the line of best fit and determine its equation. c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? ( d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. e) Predict the profit for the sales amount $500,000 and $230,000.

The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 410 55 a) Create a scatter plot of the data. Identify any outliers, if they occur. b) Sketch the line of best fit and determine its equation. c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? ( d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. e) Predict the profit for the sales amount $500,000 and $230,000.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1. The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 410 55 a) Create a scatter plot of the data. Identify any outliers, if they occur. b) Sketch the line of best fit and determine its equation. A c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? ( d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. e) Predict the profit for the sales amount $500,000 and $230,000.
Transcribed Image Text:1. The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 410 55 a) Create a scatter plot of the data. Identify any outliers, if they occur. b) Sketch the line of best fit and determine its equation. A c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? ( d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. e) Predict the profit for the sales amount $500,000 and $230,000.
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