Math Problem Statement

Use the model Y = 1.19X + 13.68 to estimate the profit in 1970.

Solution

The image shows a table representing the values of xx (years after 1965) and yy (profit in millions), along with a linear model Y=1.19X+13.68Y = 1.19X + 13.68. The task is to estimate the profit in the year 1970 using this model.

To find the profit in 1970:

  1. First, calculate XX for 1970: X=19701965=5X = 1970 - 1965 = 5
  2. Substitute X=5X = 5 into the equation Y=1.19X+13.68Y = 1.19X + 13.68: Y=1.19(5)+13.68Y = 1.19(5) + 13.68 Y=5.95+13.68Y = 5.95 + 13.68 Y=19.63Y = 19.63

Thus, the estimated profit in 1970 is 19.63 million.

Would you like more details or have any questions about this process?

Here are 5 questions that expand on this:

  1. How is the slope 1.191.19 in the linear equation interpreted in this context?
  2. What would the estimated profit be for 1975 using the same model?
  3. What does the y-intercept 13.6813.68 represent in this scenario?
  4. How can you determine whether the linear model is a good fit for the data?
  5. What impact would a change in slope have on future profit estimates?

Tip: A linear model assumes that the relationship between variables remains constant over time, so be cautious when extrapolating far beyond the data range.

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Math Problem Analysis

Mathematical Concepts

Linear equations
Modeling with data
Algebra

Formulas

Y = 1.19X + 13.68

Theorems

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Suitable Grade Level

Grades 9-11