The scatter plot below shows the profit earned each month by a new company over the first year of operation. The owner writes a line of best fit equation, shown below, to model the relationship between profit earned and month. y = 2,500x - 2,500 Explain how you know that the line of best fit equation is appropriate, mentioning both the slope and y-intercept in your response.

Explanation:To determine the slope and y-intercept of the equation, let us plot the coordinates in the slope-intercept form.Analyzing the graph, some of the points that are on the straight line is (1,0),(3,5), (9,20)Let us consider the points (1,0),(3,5) to determine the slope.[tex]\begin{aligned}m &=\frac{5-0}{3-1} \\&=\frac{5}{2} \\&=2.5\end{aligned}[/tex]Since, the profit is earned in thousands of dollars, m = 2.5 or m = 2500Thus, slope = 2500To determine the y- intercept, let us substitute any one of the coordinate from the graph.Thus, let us substitute (1,0) in the equation [tex]y=mx+b[/tex] to determine the y-intercept.[tex]0=2500(1)+b\\[/tex]Simplifying, we have,[tex]b=-2500[/tex]Hence, the line of best fit equation is [tex]y=2500x-2500[/tex]