Fit a straight line trend to the following data and estimate the expected profit for the year 2022. What is the average annual change in profit? Year 2013 2014 2015 2016 2017 2018 2019 Profit (in lacs of Rs.) 60 72 75 65 80 85 95
Added by Ricky B.
Step 1
We have the years and corresponding profits: \[ \begin{array}{cc} \text{Year} & \text{Profit (in lacs of Rs.)} \\ 2013 & 60 \\ 2014 & 72 \\ 2015 & 75 \\ 2016 & 65 \\ 2017 & 80 \\ 2018 & 85 \\ 2019 & 95 \\ \end{array} \] Show more…
Show all steps
Close
Your feedback will help us improve your experience
Tim Thornhill and 63 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Brooke B.
The profit made by a business in 2018 was double that made in 2019. The profit made in 2017 was R 3 million less than the profit made in 2019. If the total profit in these 3 years was R 25 million, what was the profit made in 2017? A R 3 million B R 4 million C R 6 million D R 7 million
Kathleen C.
The profits of a small company for each of the first five years of its operation are given in the following table: $$\begin{array}{lc} \hline \text { Year } & \text { Profit in } \$ 1000 \mathrm{s} \\\hline 2010 & 6 \\2011 & 27 \\2012 & 62 \\2013 & 111 \\2014 & 174 \\\hline\end{array}$$ a. Plot points representing the profit as a function of year, and join them by as smooth a curve as you can. b. What is the average rate of increase of the profits between 2012 and $2014 ?$ c. Use your graph to estimate the rate at which the profits were changing in 2012
Limits and Continuity
Rates of Change and Tangent Lines to Curves
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD