Solve the Problem Using the Line of Best Fit for the Data Set

question 297

Short Answer

Solve the problem.
-The following data represents the number of employees at a company at the start of each year since the company
began. $$\begin{array} { l | c c c c c c c } \text { month } & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\\hline \text { number } & 3 & 172 & 403 & 571 & 823 & 1061 & 1194\end{array}$$ Using the line of best fit for the data set, predict the number of employees at the start of the 10th year.

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Definitions:

Present Condition

The current state or situation of an object, individual, or scenario, often assessed to make decisions or predictions.

Financial Advantage

Refers to the benefit gained in financial terms, which could stem from various sources such as economies of scale, portfolio diversification, or market position.

Production

The process of creating goods or services using labor, materials, and machinery.

Annual Sales

The total volume of revenue generated from goods or services sold by a company in a fiscal year.