Questions: Our curve gives the predicted values for each input, but of course the real data may differ. The actual data points are called the observed values. Identify the predicted and observed outputs for each marked data point. predicted output € 950; observed output: € 820 predicted output €820, observed output: €950

Our curve gives the predicted values for each input, but of course the real data may differ. The actual data points are called the observed values. Identify the predicted and observed outputs for each marked data point. predicted output € 950; observed output: € 820 predicted output €820, observed output: €950
Transcript text: Our curve gives the predicted values for each input, but of course the real data may differ. The actual data points are called the observed values. Identify the predicted and observed outputs for each marked data point. predicted output € 950; observed output: € 820 predicted output €820, observed output: €950
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Solution

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Solution Steps

Step 1: Identify the marked data point

The marked data point on the graph is at \( x = 15 \) Coq au Vin sales in one evening.

Step 2: Determine the predicted output

The predicted output is the value on the curve at \( x = 15 \). From the graph, the predicted profit is approximately €950.

Step 3: Determine the observed output

The observed output is the actual data point marked on the graph at \( x = 15 \). From the graph, the observed profit is approximately €820.

Final Answer

  • Predicted output: €950
  • Observed output: €820
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