Use the sales data given below to determine: (a) the least squares trend line, and (b) the predicted value for 2003 sales. Year Sales (Units) 1996 100 1997 110 1998 122 1999 130 2000 139 2001 152 2002 164 To minimize computations, transform the value of x (time) to simpler numbers. In this case, designate year 1996 as year 1, 1997 as year 2, etc.
Use the sales data given below to determine: (a) the least squares trend line, and (b) the predicted value for 2003 sales. Year Sales (Units) 1996 100 1997 110 1998 122 1999 130 2000 139 2001 152 2002 164 To minimize computations, transform the value of x (time) to simpler numbers. In this case, designate year 1996 as year 1, 1997 as year 2, etc.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 6P: Do the sales prices of houses in a given community vary systematically with their sizes (as measured...
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Use the sales data given below to determine: (a) the least squares trend line, and (b) the predicted value for 2003 sales.
Year Sales (Units)
1996 100
1997 110
1998 122
1999 130
2000 139
2001 152
2002 164
To minimize computations, transform the value of x (time) to simpler numbers. In this case, designate year 1996 as year 1, 1997 as year 2, etc.
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