Let y represent the profit (or loss) for a certain company I years after 1965. Based on the data shown below, a statistician calculates a linear model ý - 0.16x + 9.04. !! y 9.58 3 9.6 4 6.72 9.44 6. 8.26 7 5.58 6.1 9. 7.72 10 8.94 11 8.06 12 8.08 13 6.2 Use the model to estimate the profit in 1969. Round to the nearest cent. The estimated profit in 1969 is $

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.