What is the predicted profit using exponential regression in 2010?

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SUMMARY

The discussion focuses on predicting profits using exponential regression for a small business based on historical profit data from 2001 to 2005. The user seeks guidance on applying the exponential regression formula to forecast profits for the year 2010. The rival business's profit is modeled by the function P(t) = 13500(1.24)^t, which will eventually surpass the first business's profits. Understanding the exponential regression formula is crucial for accurate profit predictions.

PREREQUISITES
  • Understanding of exponential functions, specifically the form y = c(a)^t
  • Familiarity with the concept of regression analysis
  • Basic knowledge of profit modeling and forecasting techniques
  • Access to statistical software or tools capable of performing exponential regression
NEXT STEPS
  • Learn how to perform exponential regression using tools like Excel or Python's NumPy library
  • Study the mathematical derivation of the exponential regression formula
  • Explore how to interpret the results of regression analysis in business contexts
  • Investigate the implications of profit forecasting on business strategy and decision-making
USEFUL FOR

Business analysts, financial forecasters, and entrepreneurs looking to enhance their understanding of profit prediction methodologies using exponential regression.

Ishtar
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I just need some hints answering these questions like how to do the formulla
i can't figure out the formula

Question:

Use the following information to answer the next three questions.,

The profit of a small busmess is given below

Year Profit

2001 $28000

2002 $32000

2003 $40 000

2004 $49000

2005 $60000If the owner of the business uses an exponential regression to predict the profits in the year 2010, the expected profit (in thousands) is _____

The business will achieve a profit of $800000 in the year _____

A rival business has their pront increase modeled by the function
P(t) = 13500(1.24)^t . The profit of this business will overtake the profits of the first business, for the first time, in the year ________

thx
 
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Hint: Reread the chapter in your book where you got this question from.
 
In particular, exactly what is an "exponential regression"?
 
thats wat i don't know, i no exp. function y=c(a)^t but, i don't think tats it
 
Then look up "exponential regression" in the index of your book.
 

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