The scatter plot below shows the profit earned each month by a new company over the first year of operation.

The owner writes a line of best fit equation, shown below, to model the relationship between profit earned and month.

y = 2,500x - 2,500

Explain how you know that the line of best fit equation is appropriate, mentioning both the slope and y-intercept in your response.

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vijayalalitha vijayalalitha · Answer 1 · 2020-02-18T12:20:16+01:00

Explanation:

To determine the slope and y-intercept of the equation, let us plot the coordinates in the slope-intercept form.

Analyzing the graph, some of the points that are on the straight line is (1,0),(3,5), (9,20)

Let us consider the points (1,0),(3,5) to determine the slope.

[tex]\begin{aligned}m &=\frac{5-0}{3-1} \\&=\frac{5}{2} \\&=2.5\end{aligned}[/tex]

Since, the profit is earned in thousands of dollars, m = 2.5 or m = 2500

Thus, slope = 2500

To determine the y- intercept, let us substitute any one of the coordinate from the graph.

Thus, let us substitute (1,0) in the equation [tex]y=mx+b[/tex] to determine the y-intercept.

[tex]0=2500(1)+b\\[/tex]

Simplifying, we have,

[tex]b=-2500[/tex]

Hence, the line of best fit equation is [tex]y=2500x-2500[/tex]

akotamaki akotamaki · Answer 2 · 2022-02-02T15:23:43+01:00

Answer:

To determine the slope and y-intercept of the equation, let us plot the coordinates in the slope-intercept form.

Analyzing the graph, some of the points that are on the straight line is (1,0),(3,5), (9,20)

Let us consider the points (1,0),(3,5) to determine the slope.

Since, the profit is earned in thousands of dollars, m = 2.5 or m = 2500

Thus, slope = 2500

To determine the y- intercept, let us substitute any one of the coordinate from the graph.

Thus, let us substitute (1,0) in the equation to determine the y-intercept.

Simplifying, we have,

Hence, the line of best fit equation is

Step-by-step explanation:

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