The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5 years that have elapsed since the new management team took over. Year, x 2. 5 Net Sales, y 428 442 455 463 474 (The first year the firm operated under the new management corresponds to the time period x = 1, and the four subsequent years correspond to x = 2, 3, 4, and 5.) (a) Determine the equation of the least-squares line for these data. y =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter8: Polynomials
Section8.1: Adding And Subtracting Polynomials
Problem 44PPS
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Hi there, not sure the steps on how to solve this. The question also asks to draw a scatter gram and the least-squares line for these data. 

 

Also, how do I use the results from the part A to predict the net sales for the upcoming year?

The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5
years that have elapsed since the new management team took over.
Year, x
1
3
4
5
Net Sales, y
428
442 455
463
474
(The first year the firm operated under the new management corresponds to the time period x = 1, and the four subsequent years correspond to x = 2, 3, 4, and 5.)
(a) Determine the equation of the least-squares line for these data.
y =
Transcribed Image Text:The management of a manufacturer of electric motors, submitted the accompanying data in its annual stockholders report. The following table shows the net sales (in millions of dollars) during the 5 years that have elapsed since the new management team took over. Year, x 1 3 4 5 Net Sales, y 428 442 455 463 474 (The first year the firm operated under the new management corresponds to the time period x = 1, and the four subsequent years correspond to x = 2, 3, 4, and 5.) (a) Determine the equation of the least-squares line for these data. y =
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