1. The information in the following table shows the amount of sales and the profit from...

 

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1. The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 55 410 a) Create a scatter plot of the data. Identify any outliers, if they occur. (T/I -4 marks) b) Sketch the line of best fit and determine its equation. (A - 6 marks) c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? (C-5 marks) d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. (K/U-4 marks) e) Predict the profit for the sales amount $500,000 and $230,000. (A - 4 marks) 1. The information in the following table shows the amount of sales and the profit from a small retail business in Whitby Ontario for the last 15 years. The years have not been provided as you will only need the amounts. Sales ($) (thousands) Profit ($) (thousands) 195 10 205 15 225 22 240 -10 255 25 300 39 265 24 345 55 295 32 335 37 380 48 405 55 355 50 390 48 55 410 a) Create a scatter plot of the data. Identify any outliers, if they occur. (T/I -4 marks) b) Sketch the line of best fit and determine its equation. (A - 6 marks) c) Describe any correlation you see between the variables. What conclusion could someone make based on the scatter plot? (C-5 marks) d) Identify whether you would use interpolation or extrapolation to predict the profit for the sales amount $500,000 and $230,000. (K/U-4 marks) e) Predict the profit for the sales amount $500,000 and $230,000. (A - 4 marks)