Concept explainers
Use a graphing calculator to do Exercises 67 -70.
Forward Industries Revenue The following table shows the revenue (in millions of dollars) for Forward Industries Inc, a company that designs protective solutions for handheld electronic devices. (Data from: www.morningstar.com.)
Year | Revenue |
2006 | 31 |
2007 | 22 |
2008 | 20 |
2009 | 17 |
2010 | 19 |
2011 | 23 |
2012 | 29 |
2013 | 31 |
2014 | 33 |
2015 | 30 |
Let
Graph
What does the model estimate for the revenue in 2012? Is it close to the actual revenue shown in the table?
Want to see the full answer?
Check out a sample textbook solutionChapter 3 Solutions
MATHEMATICS WITH APPL....-ACCESS
- What is regression analysis? Describe the process of performing regression analysis on a graphing utility.arrow_forwardThe US. import of wine (in hectoliters) for several years is given in Table 5. Determine whether the trend appearslinear. Ifso, and assuming the trend continues, in what year will imports exceed 12,000 hectoliters?arrow_forwardDemand for Candy Bars In this problem you will determine a linear demand equation that describes the demand for candy bars in your class. Survey your classmates to determine what price they would be willing to pay for a candy bar. Your survey form might look like the sample to the left. a Make a table of the number of respondents who answered yes at each price level. b Make a scatter plot of your data. c Find and graph the regression line y=mp+b, which gives the number of respondents y who would buy a candy bar if the price were p cents. This is the demand equation. Why is the slope m negative? d What is the p-intercept of the demand equation? What does this intercept tell you about pricing candy bars? Would you buy a candy bar from the vending machine in the hallway if the price is as indicated. Price Yes or No 50 75 1.00 1.25 1.50 1.75 2.00arrow_forward
- Does the following table represent a linear function ? If so, find the linear equation that models the data.arrow_forwardTuition at American Public Universities This is a continuation of Exercise 6. The following table shows the average yearly in-state tuition and required fees, in dollars, charged by four-year American public universities in the school year ending in the given year. Date Average tuition 2012 8318 2013 8595 2014 8872 2015 9149 2016 9426 a. Show that these data can be modeled by a linear function, and find its formula. b. What is the slope for the linear function modeling tuition and required fees for public universities? c. What is the slope of the linear function modeling tuition and required fees for private universities? Note: See Exercise 6. d. Explain what the information in parts b and c tells you about the rate of increase in tuition in public versus private institutions. e. Which type of institution shows the larger percentage increase from 2015 to 2016? 6. Tuition at American Private Universities The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private nonprofit universities in the school year ending in the given year. Date Average tuition 2012 27, 870 2013 29, 004 2014 30, 138 2015 31, 272 2016 32, 406 a. Show that these data can be modeled by a linear function, and find its formula. b. Plot the data points and add the graph of the linear formula you found in part a. c. What prediction does this formula give for average tuition and fees at four-year American private nonprofit universities for the academic year ending in 2021?arrow_forward
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill