The sales of a company (in million dollars) for each year are shown in the table below, identify the linear regression model in the form y=mx+b and report the values of m (slope) and b (intercept) as well as the estimated value of y when the value of x is 10.
NOTE: You should consider the value x as the elapsed time. For 2005 this would be 0 years, for 2006 it would be 1 year and for 2012 it would be 7 years.
What is the value of b?
The correct answer is: 11.6
