Write the Best-Fit Linear Model for the Data $\mathrm { y } = 55.8 + 2.79 \mathrm { x }$

question 169

Multiple Choice

Write the best-fit linear model for the data.
-The paired data below consist of the costs of advertising (in thousands of dollars) and the number of products sold (in thousands) . The linear model for this data is $\mathrm { y } = 55.8 + 2.79 \mathrm { x }$ , where $\mathrm { x }$ is the cost of advertising (in thousands of dollars) and $y$ is number of products sold (in thousands) . Use this model to predict the number of products sold (in thousands) if the cost of advertising is $\$ 8000$ .
$$\begin{array} { c | r r r r r r r r } \text { Cost } & 9 & 2 & 3 & 4 & 2 & 5 & 9 & 10 \\\hline \text { Number } & 85 & 52 & 55 & 68 & 67 & 86 & 83 & 73\end{array}$$

• A) 22,375,800 products sold
• B) 75,120 products sold
• C) 78,120 products sold
• D) 84,820 products sold

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Definitions:

Ending Capital

The total value of an entity’s equity at the end of an accounting period after accounting for income and withdrawals.

Beginning Capital

The amount of capital at the start of an accounting period, forming the basis for measuring capital growth or reduction over that period.

Owner's Withdrawals

Amounts of money or other assets that the owner takes out of the company for personal use.

Owner's Equity

The total value of assets a business owner has rights to after all liabilities are paid off; equity for sole proprietorships.