Question

Use the following data set to find the curve of best fit equation. (Remember to check if it should be exp or quad). Use the curve of best fit to predict the number of new stores in the year 2000.

Answer 1

Explanation:

Mean of the number of new stores = (14 + 27 + 48 + 80 + 110 + 153 + 261 + 403 + 681)/9

Mean = 197.4444

Mx = 197.4444

Mean of the year = (1986 + 1987 + 1988 + 1989 + 1990 + 1991 + 1992 + 1993 + 1994)/9

Mean = 1990

My = 1990

Regression line:

$\begin{gathered} \hat{y}\text{ = bX + }a \\ b\text{ =}\frac{\text{ sumo f products }}{su\text{ m of squares}}=\frac{4295}{388570.22} \\ b\text{ = }0.01105 \end{gathered}$$\begin{gathered} a\text{ = }M_y-bM_s \\ a\text{ = }1990-0.01105(197.4444)=1987.81824 \end{gathered}$$\hat{y}\text{ = }0.01105X+1987.81824$

Plotting the line of best fit: