I need help urgently

Question

I need help urgent please thanks

The annual profits for a company are given in the following table, where x represents the number of years since 2002, and y represents the profit in thousands of dollars. Write the linear regression equation that represents this set of data, rounding all coefficients to the nearest tenth. Using this equation, estimate the calendar year in which the profits would reach 264 thousand dollars.

Years since 2002 (x)	Profits (y)	(in thousands of dollars)
00	137137
11	150150
22	152152
33	156156

Copy Values for CalculatorOpen Statistics Calculator

Answer 1

*So the equation for linear regression is y=mx+b, where m is the slope and b is the y intercept. The first step is going to be to fill out this equation.

*We know b right off the bat, because the y intercept is the y value when x=0. This point is given to us in the table (137137). So we are at y=mx+137137

*next, we solve for the slope. The equation for the slope is (y2-y1)/(x2-x1)= (156156-137137)/(33-0)= 19019/33

Now we have the entire equation: y=(19019/33)x+137137

*The question asks us to solve for the year (x) that the profit (y) will reach $264,000. To solve for this, we plug that number in for y

*264000=(19019/33)x+137137

126863=19019x/33

4186479=19019x

x= roughly 220 years

*FINALLY we know how many years it will take to reach that profit, but there is one more step! The question asks for the calendar year this will happen. Note that x stands for the number of years *Since* 2002. So we add 220 to 2002, and this will happen in the year 2222!