Answered: The following table shows retail sales…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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Question

The following table shows retail sales in drug stores in billions of dollars in the U.S. for years since 1995.

Year	Retail Sales
0	85.851
3	108.426
6	141.781
9	169.256
12	202.297
15	222.266

Let � be the retails sales in billions of dollars in � years since 1995. A linear model for the data is �=9.44�+84.182.

36912158090100110120130140150160170180190200210220

A) Use the above scatter plot to decide whether the line of best fit, fits the data well.

The function is a good model for the data.
The function is not a good model for the data

B) To the nearest billion, estimate the retails sales in the U. S. in 2017. billions of dollars.

C) Use the equation to find the year in which retails sales will be $231 billion.

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