Step 1 :Calculate the slope (m) using the formula: \(m = \frac{N\Sigma(xy) - \Sigma x \Sigma y}{N\Sigma(x^2) - (\Sigma x)^2}\). Substitute the given values: \(m = \frac{6*2890 - 15*1142}{6*55 - 15^2} = \frac{17340 - 17130}{330 - 225} = \frac{210}{105} = 2\)
Step 2 :Calculate the y-intercept (b) using the formula: \(b = \frac{\Sigma y - m\Sigma x}{N}\). Substitute the given values: \(b = \frac{1142 - 2*15}{6} = 170\)
Step 3 :The linear regression equation is \(y = 2x + 170\)
Step 4 :Estimate the calendar year when the profits would reach $283,000 by solving the equation \(2x + 170 = 283\) for x: \(2x = 283 - 170 = 113\), \(x = \frac{113}{2} = 56.5\)
Step 5 :Since x represents the number of years since 2013, add 56.5 to 2013 to get the year: \(2013 + 56.5 = 2069.5\). Since we can't have a half year, round up to the nearest year, which is 2070
Step 6 :\(\boxed{2070}\)