Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The income of a small business for several years is given in the table below. Year Thousands of Dollars 15.6 56.2 73.8 2010 2011 2012

image text in transcribed

The income of a small business for several years is given in the table below. Year Thousands of Dollars 15.6 56.2 73.8 2010 2011 2012 2013 2014 2015 2016 2017 65.8 60.2 63.2 87.6 142.8 a) Perform regression to find a cubic polynomial that fits the data. Use years since 2010 as your inputs. p(2) = Round all values to 4 decimal places. b) Use the model to predict the income of the business in 2020. $ thousand Round to 2 decimal places. c) Use the model to predict when the business income will reach $1,200,000. Round to the nearest whole year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing For Hospitals

Authors: Seth Allcorn

1st Edition

0894431633, 978-0894431630

More Books

Students also viewed these Accounting questions