Question 418681: I have to create a regression graph using the X and Y axis that I come up with from the following word problem:
Scenario: Regression equations are created by modeling data, such as the following:
Sales = (Cost Per Item × Number of Items) – Constant Charges
In this equation, constant charges may be rent, salaries, or other fixed costs. This includes anything that you have to pay for periodically as a business owner. This value is negative because this cost must be paid each period and must be paid whether you make a sale or not.
Your company may wish to release a new e-reader device. Based on data collected from various sources, your company has come up with the following regression equation for the sales of the new e-reader:
Sales = $0.15 × number of e-readers sold – $28
Or, assuming x = the number of e-readers sold, this would be the same regression equation:
Sales = 0.15x – 28
In this case, the values are given in thousands (i.e., the cost of making an individual e-reader will be $150 [0.15 × 1,000], with $28,000 [28 * 1,000] in constant charges).
I came up with x = 560/3 and Y = 28000. Is this correct?
Answer by brnthrt(1)   (Show Source):
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