(TCOs 3, 4, and 5) An innovative restaurateur owns and operates a dozen “Ultimate Low-Carb” restaurants in northern Arkansas. His signature item is a cheese-encrusted beef medallion wrapped in lettuce. Sales (x, in millions of dollars) is related to profits (y-hat, in hundreds of thousands of dollars) by the regression equation y-hat = 7.21 + 0.83x. What is your forecast of profit for a store with sales of $40 million? $50 million?
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