Below You Are Given Information on John's Hair Salon Profit

question 63

Essay

Below you are given information on John's Hair Salon profit for the past 7 years. $$\begin{array} { c c } \text { Year } & \text { Profit (In Thousands) } \\1 & 15.0 \\2 & 16.2 \\3 & 17.1 \\4 & 18.1 \\5 & 18.8 \\6 & 19.2 \\7 & 20.5\end{array}$$
a. Use regression analysis to obtain an expression for the linear trend projection.
b. Forecast John's Hair Salon profit for the next 5 years.

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Definitions:

Thomas Hobbes

A 17th-century English philosopher known for his work in political philosophy, especially his book "Leviathan," where he discusses the structure of society and legitimate government.

Humans

Homo sapiens, the species of bipedal primates characterized by a large brain, capable of complex reasoning, language, social interaction, and tool use.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

Bourgeoisie

The class of modern capitalists who own the means of production and employ labor for wage-earning purposes, often contrasted with the working class, or proletariat.