Following are forecasts of worldwide annual cell phone handset sales. $$\begin{array} { | l | l | l | l | }
\hline \text { Year } \boldsymbol { x } & 3 & 5 & 7 \
\hline \text { Sales } \boldsymbol { y } \text { (Millions) } & 500 & 600 & 800 \
\hline
\end{array}$$ ( $$x = 3$$ represents 2003)
Obtain the associated regression line. (Round coefficients to 2 decimal places if necessary.) Use your regression equation to project the 2017 sales.

A)1533.33
B) 1523.33
C) 1543.33
D) 1547.33
E) 1516.33

Question

Following are forecasts of worldwide annual cell phone handset sales. $$\begin{array} { | l | l | l | l | } 
\hline \text { Year } \boldsymbol { x } & 3 & 5 & 7 \
\hline \text { Sales } \boldsymbol { y } \text { (Millions) } & 500 & 600 & 800 \
\hline
\end{array}$$ ( $$x = 3$$ represents 2003)
Obtain the associated regression line. (Round coefficients to 2 decimal places if necessary.) Use your regression equation to project the 2017 sales.
 
A)1533.33
B) 1523.33
C) 1543.33
D) 1547.33
E) 1516.33

Quizplus · Accepted Answer

The regression line is calculated using the points (3, 500), (5, 600), and (7, 800). The slope (m) is 100, and the intercept (b) is 200. The equation is y = 100x + 200. For 2017 (x = 17), y = 100(17) + 200 = 1533.33.

Following Are Forecasts of Worldwide Annual Cell Phone Handset Sales