Arnold Tofu Owns and Operates a Chain of 12 Vegetable

Essay

Arnold Tofu owns and operates a chain of 12 vegetable protein "hamburger" restaurants in Quebec. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? $30 million?
$$\begin{array} { | c | c | c | } \hline \text { Store } & \text { Profits } & \text { Sales } \\\hline 1 & 14 & 6 \\\hline 2 & 11 & 3 \\\hline 3 & 15 & 5 \\\hline 4 & 16 & 5 \\\hline 5 & 24 & 15 \\\hline 6 & 28 & 18 \\\hline 7 & 22 & 17 \\\hline 8 & 21 & 12 \\\hline 9 & 26 & 15 \\\hline 10 & 43 & 20 \\\hline 11 & 34 & 14 \\\hline 12 & 9 & 5 \\\hline\end{array}$$