Using a calculator, the linear regression equation that represents this set of data is:
y = 16.3x + 119.
Using the equation, profits would reach 420 thousand dollars during the year of 2030.
How to find the equation of linear regression using a calculator?
To find the equation, we need to insert the points (x,y) in the calculator.
For this problem, the points are given by:
(0, 113), (1, 142), (2, 162), (3, 161), (4, 171), (5,210).
Inserting these points into the calculator, the equation is:
y = 16.3x + 119.
The year it would reach 420 thousand dollars is x years after 2012, considering that y = 420, hence:
420 = 16.3x + 119
16.3x = 301.
x = 301/16.3
x = 18.47.
2012 + 18.47 = 2030.47, hence profits would reach 420 thousand dollars during the year of 2030.
More can be learned about a line of best fit at https://brainly.com/question/22992800
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