Concept explainers
a.
Construct a
a.
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Answer to Problem 30CT
Explanation of Solution
Given information:
Income generated from 2011 to 2017.
Year | Revenue |
2011 | 66.1 |
2012 | 116.9 |
2013 | 197.5 |
2014 | 325.9 |
2015 | 644.7 |
2016 | 846.6 |
2017 | 1076.8 |
Assume t=1 at 2011.
b.
Suitable Model for the data and coefficient of determination.
b.
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Answer to Problem 30CT
The equation of linear model is
The coefficient of determination is 0.94.
Explanation of Solution
Given information:
Year | Revenue |
2011 | 66.1 |
2012 | 116.9 |
2013 | 197.5 |
2014 | 325.9 |
2015 | 644.7 |
2016 | 846.6 |
2017 | 1076.8 |
Formula used:
Coefficient of determination
Mean of x is 4
Mean of y is 467.7.
X | Y | X - Mx | Y - My | ( X - Mx)2 | ( X - Mx)( Y - My) |
1 | 66.1 | -3 | -401.686 | 9 | 1205.0571 |
2 | 116.9 | -2 | -350.886 | 4 | 701.7714 |
3 | 197.5 | -1 | -270.286 | 1 | 270.2857 |
4 | 325.9 | 0 | -141.886 | 0 | 0 |
5 | 644.7 | 1 | 176.9143 | 1 | 176.9143 |
6 | 846.6 | 2 | 378.8143 | 4 | 757.6286 |
7 | 1076.8 | 3 | 609.0143 | 9 | 1827.0429 |
Linear regression equation:
Where,
The equation of linear model is
Coefficient of determination:
X | Y | X2 | Y2 | XY |
1 | 66.1 | 1 | 4369.21 | 66.1 |
2 | 116.9 | 4 | 13665.61 | 233.8 |
3 | 197.5 | 9 | 39006.25 | 592.5 |
4 | 325.9 | 16 | 106210.8 | 1303.6 |
5 | 644.7 | 25 | 415638.1 | 3223.5 |
6 | 846.6 | 36 | 716731.6 | 5079.6 |
7 | 1076.8 | 49 | 1159498 | 7537.6 |
The coefficient of determination:
The coefficient of determination is 0.94.
c.
Construct the graph with the help of graphing utility.
c.
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Answer to Problem 30CT
Explanation of Solution
Given information:
The equation of linear model is
The graph of
d.
Whether the model is fit for data or not.
d.
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Answer to Problem 30CT
Yes, the model is fit for data.
Explanation of Solution
As
As
Chapter 3 Solutions
EP PRECALC.GRAPHING APPR.-WEBASSIGN-1YR
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