Question

Auguste Gusteau owns and operates a dozen "Michelin star" restaurants in Paris. His signature item is a Ratatouille. Months are related to Profits (y, in hundreds of thousands of dollars) by the regression equation y= 7. 21 1. 76 x. What is your forecast of profit for a store with sales of October (Month 10)?.

Answer 1

The profit from the sales of the 10th month from the signature item Ratatouille is $24.81 hundreds of thousands of dollars.

What is a regression equation?

In statistics, a regression equation is used to determine whether or not there is a link between two sets of data. It is given by the equation,

y =a+bx

where y is the dependent variable, x is the independent variable, and a and b are the constant values.

We know that the regression equation that is related to profit from the signature item Ratatouille is given by the equation y=7.21+1.76x, therefore, the profit from the sales of the 10th month can be written as,

$y=7.21+1.76x\\\\y= 7.21 + 1.76(10)\\\\y=24.81$

Hence, the profit from the sales of the 10th month from the signature item Ratatouille is $24.81 hundreds of thousands of dollars.

Learn more about the Regression equation:

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