In a study of sales, a company obtained the following least square trend equation : 16 + 2X (Origin, 1985, X unit = 1 year Y unit total number of units sold per year) : %3D The company has a physical capacity of producing only 30 units a year and it believes that at least for the next decade the trend will continue as before. (i) What is the average annual increase in the number of units ? (ii) By which year the company's expected sales have reached its physical сараcity ? (iii) Estimate the annual sales for the year 1998.
In a study of sales, a company obtained the following least square trend equation : 16 + 2X (Origin, 1985, X unit = 1 year Y unit total number of units sold per year) : %3D The company has a physical capacity of producing only 30 units a year and it believes that at least for the next decade the trend will continue as before. (i) What is the average annual increase in the number of units ? (ii) By which year the company's expected sales have reached its physical сараcity ? (iii) Estimate the annual sales for the year 1998.
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....
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Transcribed Image Text:In a study of sales, a company obtained the following least square trend
equation :
Y = 16 + 2X
(Origin, 1985, X unit
1
year Y unit
total number of units sold per year) :
The company has a physical capacity of producing only 30 units a year and
it believes that at least for the next decade the trend will continue as before.
(i) What is the average annual increase in the number of units ?
(ii) By which year the company's expected sales have reached its physical
сараcity ?
(iii) Estimate the annual sales for the year 1998.
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