Topic: Regression Equation
Please HELP ASAP. I AM TO GRAPH THE FOLLOWING AND I DO NOT KNOW WHAT TO DO. This is the Scenario: Profit=(cost Per Item X Number of Items) - Constant Changes
The regression equation is
Profit = $0.15 x Number of items sold -28 or
assuming x= Number of Items sold, this would be the same regression equation: Profit=0.15x-28
the values are given in thousands (i.e., the cost of making one item will be $150 [0.15 X 1,000], with $28,000 [28*1000] in constant changes.
I hope some one can help/ I am new at this and really confused.